IMF Has ‘Good Understanding’ With Mozambique Over Debt Audit
- Audit into $1.4 billion of undisclosed debt to be made public
- Independent, international probe could help lift economy
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The International Monetary Fund has a “very good understanding” with Mozambique’s government about the requirements for a planned audit into $1.4 billion of hidden debt uncovered this year, said Abebe Aemro Selassie, African department director at the fund.
“There’s a good agreement between the government and the IMF on some of the key prerequisites for the audit,” Selassie said in a transcript posted to the IMF’s website. “There will be an independent audit undertaken of the loans that have been taken up by state-owned enterprises, and this audit will be made public.”