Mozambique, Africa's largest natural-gas producer, edged closer on Friday to finding out how a $2-billion (R27-billion) debt was accumulated from 2013 to 2014 by three state-owned companies without government guarantees after the submission to authorities of an audit report on its debt crisis. The report, delayed three times, was compiled by the London-based forensics firm Kroll Associates and was due to be handed over to the Mozambican attorney-general's office (PGR) on Friday. The findings will serve as the basis on which the International Monetary Fund (IMF) will resume a support programme to the country. The IMF pulled out of Mozambique in April last year after the scale of its hidden debts began to emerge. The debt represents a third of Mozambique's GDP of about $6-billion. The Mozambican economy has been buffeted by economic headwinds such as slow economic growth, two missed loan repayments ($119-million in January and $60-million in March), depressed prices for natural gas an...
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