IMF says additional $1 bln in Mozambique debt uncovered

Mozambique's government has borrowed $1 billion more than it previously disclosed, the International Monetary Fund said on Friday, adding that the discovery diminished its view of the African nation's economic outlook. Antoinette Sayeh, the IMF's Africa director, told a news conference that the additional funds appeared to have been borrowed from Credit Suisse and Russia's VTB Bank and allocated to Mozambique's defense and security sector. The IMF last year agreed to loan Mozambique $286 million