Following on the heels of the World Bank, the UK has now announced that it is delaying all financial aid payments to Mozambique following the discovery of $1.4bn (£960m) in undisclosed debt (see 10:58 post).
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| One of government loans was to Proindicus, a state maritime company |
“This appears to be a serious breach of trust, so we are working closely with other international partners to establish the truth and coordinate an appropriate response,” the UK’s foreign aid ministry Dfid said in a statement.
"The UK follows strict rules and procedures when providing aid and our priority continues to be supporting the people of Mozambique to lift themselves out of poverty and build a more secure and prosperous country.”
The IMF, which discovered the undisclosed debt, is now investigating the issue.
The government has admitted that it acted as guarantor for two multi-million dollar loans to two firms with connections to the state.
BBC Africa
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