africa Banking Currency Economy Finance Government Mozambique

Mozambique extends investigation into government loans by one month

Mozambique has extended the investigation into state firms that hid $2 billion (£1.6 billion) in loans from government and international creditors by 30 days, state media said on Monday, to allow the firm conducting the probe more time to access information.

In November, Mozambique’s attorney general appointed multinational risk management firm Kroll to audit the suspicious loans that led to the International Monetary Fund cancelling funding to the impoverished southern African nation.

Source: EuroNews

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