Mozambique's Secret Debt Triggers Economic Crisis

Major foreign donors have suspended their contributions to the government budget in the wake of revelations that the previous government incurred massive debts without disclosing them.

IMF Africa director Antoinette Sayeh said Mozambique's initial failure to disclose borrowing of more than one billion U.S. dollars "significantly changes our assessment of Mozambique's macroeconomic outlook." She is seen at the Spring 2016 meetings of the IMF in Washington, DC.

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