November 8, 2018 / 8:51 AM / 6 days ago

IMF says has good relations with Mozambique

MAPUTO, Nov 8 (Reuters) - The International Monetary Fund and Mozambique have a “very good” relationship, the Fund’s resident representative in the southern African nation said on Thursday, years after cutting off support to the southern African state.

Mozambique’s economy was hurt by a debt crisis after admitting in 2016 to $1.4 billion of previously undisclosed lending. The disclosure prompted the IMF and foreign donors to cut off support to the southern African state, triggering a currency collapse and a default on sovereign debt. (Reporting by Olivia Kumwenda-Mtambo Editing by James Macharia)

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