(Maputo, 15 November 2018) A coalition of Mozambican civil society organisations see the decision of the UK Financial Conduct Authority (FCA) will not be pursuing criminal sanctions against Credit Suisse for its role in Mozambique’s unconstitutional and illegal US$ 2.3 bn debt as further evidence that the international community will not hold accountable its own banks which are responsible for the debt.
We now question the sincerity of the UK and other donors, and doubt their real commitment to good governance in Mozambique. The international community holds the Mozambican people and leadership solely responsible for this debt, and exonerates those behind it.
The decision taken by the UK watchdog is in line with various international organisations and donor agencies that have stopped demanding transparency on the secret debts affair. Our understanding is that there is a clear intention of green washing the debt scandal, as a mean of securing benefits for the creditors and condemning the people of Mozambique to perpetuated misery. Mozambican cvil society cannot accept such injustice.
Clearly the Mozambican leadership was party to the debt, but it was instigated and only made possible by lenders in the donors countries who are not challenged by international agencies and donors who only blame Mozambicans. Civil society will now directly approach regulators, the UN and G20 to seek support.
Attached is the full statement. https://drive.google.com/open?id=1sV8e_Z2UfhbkM5MyPgCXQtldDmYWporp