IMF Resumes Mozambique Aid After Tuna Bond Scam

The International Monetary Fund has approved financial assistance for Mozambique, the first such aid by the fund to the country after a six-year suspension. <br />The suspension was imposed after the country was found to have more than $2.7bn of undisclosed state debts - money which the government borrowed to set up a sophisticated tuna industry - to buy trawlers and military patrol boats, but much of it was allegedly diverted to corrupt officials. <br />The IMF board approved a three-year $456million aid that will support economic recovery and help reduce public debt.