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Vol 57 No 9

Published 29th April 2016


Mozambique

IMF cut-off follows secret debt shock

The Fund has stopped flows to Maputo after secret debts came to light. Even more massive obligations remain hidden, we can reveal 

Shocked by revelations that top security officials in Maputo had racked up secret state-backed loans as big as $1.5 billion, the International Monetary Fund has cancelled its emergency loan to the country and its next planned mission to the capital. The secret debt includes a massive Russian loan for a port project in Pemba which was not public until now.

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