Mozambique has this week disclosed more than $1 billion in hidden borrowing for security and defence spending, the IMF’s Africa director said today, a fact that “significantly changes our assessment of Mozambique’s macroeconomic outlook.” Africa director Antoinette Sayeh told a press conference at the Fund’s headquarters in Washington, DC, that Mozambique’s authorities confirmed the existence…...

A ProIndicus maritime defence vessel in the port of Pemba, northern Mozambique. Photo © Zitamar News