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IMF resumes Mozambique aid after 'tuna bond' scam

The International Monetary Fund (IMF) has  endorsed

 financial funding for Mozambique, the foremost such grant by the fund to the country after a six-year abeyance.

The abeyance  was inflicted after the country was discovered  to have extra $2.7bn (£2bn) of unrevealed state arrears - money which the government rented to established up a civilised  tuna industry - to buy fly fisherman and fast missile boats, but a great deal of it was as stated diverted to dishonest  officials.

The son of Mozambique's erstwhile-president and 18 others went on court case final year over the "tuna bonds" matter. They have not at time remarked on the allegations.

The IMF board on Monday endorsed a three-year $456m (£369m) aid that will support economic recovery and help reduce public debt.

“With this programme, the decision taken today to approve the agreement negotiated with the government, we will also obtain additional resources for the financing of the economy, not only the resources in the agreement financed by the fund, but it also opens the window of opportunities for funding by other partners," Mozambican Prime Minister Max Tonela said.

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