The official is one of seventeen suspects named by the Mozambican Attorney-General’s Office in January in connection with the “hidden debts” scandal where loans of over $2 billion were obtained by state security firm Proindicus, Mozambique Tuna Company (EMATUM) and Mozambique Asset Managemen (MAM) to build shipyards in the capital Maputo and the northern town of Pemba in expectation of a rapid takeoff in the offshore gas sector.
At the time that the guarantees were made, Lucas was the head of the Treasury Department in the Ministry of Finance which gave the go-ahead for the guarantees.
She is currently a director of the Ematum.
Mozambique’s government is battling to overhaul its suffocating debt burden after admitting in 2016 to $2 billion of previously undisclosed loans, which prompted the International Monetary Fund and foreign donors to cut off support, triggering a currency collapse and a debt default.
Maputo needs to restructure a $535 million state-backed loan to the Mozambique Asset Management (MAM) arranged by Russian lender VTB and a similar $622 million facility for maritime security projects at ProIndicus arranged by Credit Suisse.
Also due for overhaul is a $726.5 million Eurobond.