Off the wire
• UNHCR repatriates over 35,000 Somali refugees from Kenya  • Irish tourism sees best ever year in 2016  • Death toll rises to 96 in Mozambique tanker explosion  • Joint interview event for Chinese enterprises in Africa launched in Tanzania  • OECD revises up Spain's economic growth forecast for 2016  • Albania celebrates Independence Day  • Frontex to strengthen cooperation with Western Balkans  • FM gives thumbs up to Hungary's foreign policy  • Foreign investors predict prosperous future to Serbia's economy  • Scientists explain why spaceflight bad for astronauts' eyes  
You are here: 　 Home

IMF salutes beginning of independent auditing in Mozambique

Xinhua, November 29, 2016 Adjust font size:

The International Monetary Fund (IMF) on Monday saluted the auditing process in progress in Mozambique for the verification of the loans acquired by three companies leading to the country's unsustainable debt.

The IMF said it will not demand additional corrective recommendations to the process and stays committed to following a constructive engagement with Mozambique.

As part of the measures, Mozambique reinforced the procedures for the acquisition of public loans and increased transparency in acquiring new debts.

The IMF also saluted the fiscal and monetary measures introduced that aim at bringing the country's economic performance back to balance.

In the meantime on Monday, the former president of Mozambique, Armando Guebuza has been heard by the parliamentary inquiry commission which was set up to investigate the loans that led to interruption of financial support to the country's state budget.

Joaquim Dai from the national association of economics said despite these expected improvements, the positive reflections into the lives of Mozambican people could only be felt as from the second quarter of 2017. Endit