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Joined up thinking for the Irish Left

offsite link New Books Worth Reading Mon Sep 19, 2016 23:25 | Seán Sheehan

offsite link 13 Billion ? Lucky for some? Mon Sep 05, 2016 13:04 | Tony Phillips

offsite link Rebuilding Ireland: Long on Promise, Short on Detail Mon Aug 29, 2016 22:20 | Eoin O'Mahony

offsite link Brexit and Other Issues: Comments on the Current Situation Mon Aug 29, 2016 21:52 | Brendan Young

offsite link Bin Charges: From Private Circus to Public Service Tue Jun 21, 2016 12:38 | Michael Taft

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Spirit of Contradiction

offsite link Fake News: The Epistemology of Media Wed Jun 07, 2017 11:52 | Gavin Mendel-Gleason

offsite link Officials and Provisionals Sat Apr 01, 2017 22:54 | James O'Brien

offsite link Interview with Cathal Goulding Mon Dec 26, 2016 17:11 | Cathal Goulding

offsite link Trump, Russia and the CIA Sat Dec 10, 2016 18:23 | Gavin Mendel-Gleason

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Life should be full of strangeness, like a rich painting

offsite link Notes for a Book on Money and the Irish State - The Marshall Aid Program 15:10 Sat Apr 02, 2016

offsite link The Financial Crisis:What Have We Learnt? 19:58 Sat Aug 29, 2015

offsite link Money in 35,000 Words or Less 21:34 Sat Aug 22, 2015

offsite link THE WRATH OF KANE: BANKING CRISES AND POLITICAL POWER 09:32 Fri Jan 30, 2015

offsite link ALWAYS THE ARTISTS: WEEK THREE OF THE BANK INQUIRY 23:11 Thu Jan 22, 2015

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NAMA Wine Lake

offsite link Farewell from NWL Sun May 19, 2013 14:00 | namawinelake

offsite link Happy 70th Birthday, Michael Sun May 19, 2013 14:00 | namawinelake

offsite link Of the Week? Sat May 18, 2013 00:02 | namawinelake

offsite link Noonan denies IBRC legal fees loan approval to Paddy McKillen was in breach of E... Fri May 17, 2013 14:23 | namawinelake

offsite link Gayle Killilea Dunne asks to be added as notice party in Sean Dunne?s bankruptcy Fri May 17, 2013 12:30 | namawinelake

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Mozambique Audit Reveals Corruption and Short Falls in Financial System

category international | elections / politics | news report author Wednesday July 05, 2017 22:22author by Abby Wilhelm - Jubilee USA Network Report this post to the editors

Trump and G20 Leaders Review New Guidelines to Prevent Debt Crisis on Friday

Ahead of President Trump's first G20 meeting in Germany this weekend, Mozambique released an audit exposing violations of the country's laws to secure now-defaulted loans.

Ahead of President Trump's first G20 meeting in Germany this weekend, Mozambique released an audit exposing violations of the country's laws to secure now-defaulted loans. Nearly $2 billion in loans were secured by the government of Mozambique but hidden from the public and Parliament. Last week, Business Insider reviewed CIA data and ranked Mozambique as one of the most indebted countries in the world. The United Nations Development Programme ‎lists Mozambique as one of the least developed countries in the world at 181 out of 188 countries.

“We know that the financial crisis in Mozambique was caused by corruption at the national and international level,” said Eric LeCompte, Executive Director of the religious development group Jubilee USA. “It seems a group of Mozambique's leaders and creditors conspired to steal from some of the world's poorest people.”

The financial scandal and debt crisis facing Mozambique will be discussed in Hamburg by G20 leaders in the context of new responsible lending and borrowing guidelines during their annual two day meeting. Finance Ministers for the Group of 20 supported these "Operational Guidelines for Sustainable Financing" at their March meeting in Baden-Baden, Germany.

“The G20 is calling on its member countries to pass stronger laws to stop corruption and enforce responsible lending and borrowing,” said LeCompte who serves on United Nation debt expert groups. “While the new G20 guidelines fall short on determining whether or not a country's debt is sustainable, the guidelines are progress in protecting vulnerable people from economic crisis."

Jubileeusa.org

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