Czech ministries fail to offer guarantees on EU funds

02-11-2004

An audit by PricewaterhouseCoopers has shown that Czech ministries often fail to offer guarantees that money from EU funds would not go astray, according to the economics daily Hospodarske Noviny. The failing complicates the process of drawing on EU funds and thus damages the country's interests. Although the Finance Ministry ordered the audit on the understanding that its outcome would be made public, it is now keeping the results secret. An unnamed ministry source told the paper that the audit would not be made public until after the elections and after the shortcomings had been removed.