OPINION: African countries need to watch the conclusion of the case regarding the secret loans to Mozambique Asset Management (MAM) and Proindicus, writes VictorAfrica
It probably has implications for how they could deal with debts incurred by corrupt politicians without authorisation.
The Constitutional Council, in deciding that these loans by the government of President Armando Guebuza were null and void, quoted the fact that a special parliamentary inquiry found they violated the constitution because they were not declared to parliament for authorisation. Simply put, the parliament of Mozambique should not be expected to repay the loans they never knew of.
How many African countries have been impoverished by debt-servicing costs for loans that were either unauthorised or misappropriated by corrupt politicians and government officials?
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