Subscribe to Updates

    Get the latest creative news from Papa Linc about art, design and business.

    What's Hot

    Prioritise cases with Constitutional implications

    June 3, 2023

    ‘Businesswoman’ arrested in Minna for allegedly defrauding over 100 people of N150m

    June 3, 2023

    “26 and ready” – BBNaija star, Phyna says as she shares photos of herself in wedding dress

    June 3, 2023
    Facebook Twitter Instagram
    Trending
    • Prioritise cases with Constitutional implications
    • ‘Businesswoman’ arrested in Minna for allegedly defrauding over 100 people of N150m
    • “26 and ready” – BBNaija star, Phyna says as she shares photos of herself in wedding dress
    • Recent attacks spell doom for Putin and could see the break-up of Russia, expert warns
    • Two students of Osino Presbyterian SHS die in accident on Accra-Kumasi highway
    • VIDEO: Popular Dancer, Endurance Finally Speaks On Claims That She Is Gay
    • “I’m still small; you must remove it” – Lady shares her boyfriend’s reaction after pranking him with pregnancy (Screenshots)
    • Biden will speak ‘directly to the American people’ in first Oval Office address as president
    Login
    Saturday, June 3
    MC PAPA LINC
    • News
      • International
    • Entertainment
      • Interviews
      • Music
      • Movies
    • Politics
    • Sports
    • LINC Radio
    • Live TV
    Facebook Twitter Instagram
    MC PAPA LINC
    Home » News » World Bank Impressed By Mozambique’s Scandal Clean-Up | General News

    World Bank Impressed By Mozambique’s Scandal Clean-Up | General News

    Papa LincBy Papa LincMay 12, 2022No Comments
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    The World Bank says it intends to resume direct budget support to Mozambique, six years after it was suspended when more than $2.7bn (£2.1bn) of undisclosed state debts were discovered.

    It became known as the tuna bond scandal as much of the money the government secretly borrowed was to set up a fishing industry, but the money was allegedly diverted to corrupt officials.

    The announcement comes a day after the International Monetary Fund (IMF) made a similar pledge.

    During a briefing in Washington DC, World Bank official Idah Pswarayi-Riddihough said the first trench of $300m would be up for approval by the end of June.

    “We feel that this is an excellent opportunity for the government particularly to also recognise the very strong work that they have done since the hidden debts… around transparency and governance,” she said.

    “The approval of the IMF programme and [the World Bank’s] budget support activities give a very strong signal to the market but even more importantly they give a strong signal to all of partners of Mozambique in terms of financing.”

    She explained that this help would allow the government to create more resources for development that would also help deflect the economic impact of the Ukraine crisis and the coronavirus pandemic.

    Source: BBC

     

     

    Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.

    Featured Video



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous Article‘We had no choice but to increase transport fares; bear with us’
    Next Article Kyiv: Video shows Russian soldiers killing 2 civilians before they ransack a business
    Papa Linc

    Related Posts

    “26 and ready” – BBNaija star, Phyna says as she shares photos of herself in wedding dress

    June 3, 2023

    “I’m still small; you must remove it” – Lady shares her boyfriend’s reaction after pranking him with pregnancy (Screenshots)

    June 3, 2023

    Serial phone thief caught fast asleep in church

    June 3, 2023

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    Don't Miss
    Entertainment

    Prioritise cases with Constitutional implications

    By Papa LincJune 3, 20230

    The Director of Advocacy and Policy Engagement at the Centre for Democratic Development (CDD-Ghana), Dr.…

    ‘Businesswoman’ arrested in Minna for allegedly defrauding over 100 people of N150m

    June 3, 2023

    “26 and ready” – BBNaija star, Phyna says as she shares photos of herself in wedding dress

    June 3, 2023

    Recent attacks spell doom for Putin and could see the break-up of Russia, expert warns

    June 3, 2023

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Advertise with us
    Advertise with us

    Reach out to us at ads@papalinc.com or +17189246727 to advertise with us.

    Latest Posts

    Prioritise cases with Constitutional implications

    June 3, 2023

    ‘Businesswoman’ arrested in Minna for allegedly defrauding over 100 people of N150m

    June 3, 2023

    “26 and ready” – BBNaija star, Phyna says as she shares photos of herself in wedding dress

    June 3, 2023
    MC PAPA LINC
    Facebook Twitter Instagram YouTube WhatsApp
    © 2023PAPA LINC. Designed by LiveTechON LLC.

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Lost password?

    Register Now!

    Already registered? Login.

    A password will be e-mailed to you.