The 21-year-old striker is set to move in a co-ownership deal for a €10million (£8.5million) fee, while Antonio Cassano should switch the other way on loan.
But Moratti has denied speculation of an offer from a Russian club for defender Andrea Ranocchia or a bid from Barcelona for keeper Samir Handanovic.
Moratti told the club's official website: "Belfodil? What the newspapers are saying is more or less the truth.
"(An) offer from Russia for Andrea Ranocchia? It doesn't seem so to me. Bids for Handanovic (from Barcelona)? No. Nothing for now".
Handanovic's agent Federico Pastorello has also denied speculation linking the 28-year-old to the Catalans.
He told Radio Rai: "Samir is an anchorage for Inter and I deny the negotiations written in the newspapers.
"In football, anything can happen but I think there won't be news.
"Barcelona's offer? It doesn't seem so to me. There was an idea it was doubly intertwined with the move of Victor Valdes, who seemed directed to Monaco."