UK joins IMF and World Bank to cut Mozambique aid

The UK government says it has suspended financial aid to Mozambique over an alleged “serious breach of trust” relating to undisclosed debts. This follows similar action from the International Monetary Fund (IMF) and the World Bank. The IMF halted funding 10 days ago when it found Mozambique had not declared debts of more than $1bn […]

The UK government says it has suspended financial aid to Mozambique over an alleged “serious breach of trust” relating to undisclosed debts.
This follows similar action from the International Monetary Fund (IMF) and the World Bank.
The IMF halted funding 10 days ago when it found Mozambique had not declared debts of more than $1bn (£700m).
The government says the liabilities relate to guaranteeing loans taken out by two mostly state-owned companies.
The UK said in a statement that it was now “working closely with other international partners to establish the truth and coordinate an appropriate response”.