IMF to visit Mozambique to discuss debt audit concerns

The International Monetary Fund will visit Mozambique from July 10-19 to discuss issues around the management of public finances following the release of an audit into $2 billion in hidden loans by risk-management firm Kroll, the IMF said on Saturday.

"The publication of these documents constitutes an important step towards greater transparency regarding the loans," the IMF said in a statement.

"However, information gaps remain, in particular on the use of the loan proceeds. An IMF staff mission will visit Mozambique ... to discuss the results of the audit with the authorities and possible follow-up actions."