By AFPMore by this AuthorMAPUTO,Several non-governmental organisations in Mozambique on Saturday called on Credit Suisse to write off debt their government contracted with the Swiss bank as part of a massive "hidden debt" scandal. In a letter addressed to Credit Suisse CEO Tidjane Thiam seen by AFP, 21 civil society groups said the scandal over allegedly illegal loans totalling $2 billion was "a direct result of fraudulent illegal collusion between Credit Suisse, contractors and Mozambican government officials". MINISTER SACKEDThe call came only days after Mozambique President Filipe Nyusi sacked deputy finance minister Isaltina Lucas who has been implicated in the widening scandal. When the hidden debt was revealed, Mozambique — which relies on donor aid and is one of the world's poorest countries — was plunged into the worst financial crisis in its history. Seven suspects including Mozambicans and ex-Credit Suisse bankers are accused by the US of fraud, conspiracy to financial security fraud, conspiracy to launder money.​

Source: Daily Nation February 10, 2019 04:30 UTC