WASHINGTON—The International Monetary Fund canceled a planned meeting over Mozambique's standing credit facility with the multinational organization following a report in The Wall Street Journal of undisclosed borrowing by the African nation, according to Antoinette Sayeh, director of the IMF's Africa department.

Ms. Sayeh said the IMF probed the borrowing after the Journal's report on April 3, which detailed how bonds sold to investors as backing a tuna-fishing fleet actually funded the purchase of navy ships.

The IMF said the undisclosed borrowing reached $1 billion, through Credit Suisse Group AG and VTB Group of Russia.

A spokesman for Credit Suisse declined to comment.

Write to Julie Wernau at Julie.Wernau@wsj.com

(END) Dow Jones Newswires

April 15, 2016 11:45 ET (15:45 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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