Wednesday, May 4, 2016 12:11 pm
Ratings agency Moody’s said on Wednesday the suspension of financial assistance to Mozambique and discovery of hidden debt hit its assessments of the government’s financial strength and was also a credit negative for the country.
The IMF has said that Maputo has admitted to having more than $1 billion of undisclosed debt. The World Bank is delaying approval of further development loans pending a debt sustainability analysis to be conducted with the IMF.
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