No More Funds for Mozambique

The International Monetary Fund will withhold any further funding to Mozambique, which told creditors this week it wants to restructure its commercial loans, while the country is still classified as debt-distressed, a spokesman for the lender said, Bloomberg reported. “In line with fund policies, we cannot disburse funds in a situation where we think the debt is not sustainable,” Gerry Rice told reporters in Washington Thursday, according to a transcript of the briefing posted on the IMF’s website. “As with any country, to be able to disburse we need to know that the debt is sustainable.”