IMF Says Mozambique Must Accept Audit to Restore Confidence
- Nation is already probing loans to three state-owned companies
- Donors withheld aid when government disclosed hidden credit
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Mozambique’s government should take measures to restore confidence with international partners by accepting an external forensic audit, the outgoing International Monetary Fund representative said.
A group of 14 donors demanded in May an investigation by international auditors on how loans to at least three Mozambique state-owned companies were used before they resumed giving aid. The group suspended budgetary support after the southern African nation revealed in April that it had more than $1.4 billion in previously undisclosed debt.