IMF suspends funding to Mozambique

good

The International Monetary Fund, IMF has suspended funding to Mozambique after it discovered that the government had hidden one billion dollars of debt.

A source from the IMF said it is probably one of the largest cases of the provision of inaccurate data by a government that the IMF has seen in an African country in recent times.

The revelation could affect other donors’ willingness to provide money that could heap pressure on Maputo, which is dependent on donors to finance about a quarter of its budget.


Source: BBC news

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.