MOZAMBIQUE: Mozambique comes clean on $1.35 bln of debt but “very close to unsustainability” – IMF source

IN File Club of Mozambique

Mozambique has given the International Monetary Fund (IMF) an “avalanche of documents” and come clean on as much as $1.35 billion of undeclared sovereign debt but is now “very close to unsustainability”, a Fund source said on Friday,

Much of the debt was issued to Mozambican state firms by Credit Suisse and Russia’s VTB, although the Interior Ministry also had a $130-$200 million loan from an unidentified bilateral lender, the source said.

Reuters/Club of Mozambique