- Published: Tuesday, 26 April 2016 10:01
- Sourced by SolutionsTeam
The International Monetary Fund (IMF), in a brief statement issued on 23 April, welcomed the Mozambican government's acknowledgement "that an amount in excess of one billion US dollars of external debt guaranteed by the government had not previously been disclosed to the Fund". These undisclosed loans first came to light in an article in the "Wall Street Journal" on 3 April. The IMF reacted by suspending a mission due to visit Mozambique, and halting disbursement of the second instalment of a $283 million loan agreed last October from the Fund's Standby Credit Facility (SCF).