IMF DENIES ACCUSING MOZAMBICAN GOVT OF CONCEALING FURTHER UNDISCLOSED DEBT

The International Monetary Fund (IMF) has categorically refuted media reports that it has accused the Mozambican government of concealing further undisclosed debts.

Certain local media on Tuesday claimed that IMF Deputy Director Sean Nolan had revealed the existence of other, unspecified hidden debts of the Mozambican government at an IMF media conference in Washington on Jan 12.

The IMF promptly issued a denial, pointing out that Nolan simply made factual statements concerning the absence of a broad-based movement towards debt distress in low-income developing countries”.

“He also stated that the debt situation has, however, worsened in some countries, including Mozambique, the Fund stated.

While Mr. Nolan confirmed that the previously hidden debt contributed to a worsening of the debt situation in Mozambique, he did not state, contrary to allegations, that undisclosed debts still exist.”

The Washington media conference on the IMF’s annual report on low-income developing countries, and when it came to debt issues, Nolan cited Mozambique as one of a number of high profile examples where things have gone wrong.

The IMF statement ended with the pledge that the IMF remains committed to working with the Mozambican authorities to maintain economic stability and achieve inclusive growth in the country.

Source: NAM NEWS NETWORK