China's vast investment in Africa stutters in Congo

The growing involvement of China in individual African countries and in the affairs of the continent continues to raise questions.

The IMF places conditions on its loans to force governments to take measures to boost their finances. In addition, as the IMF can only lend if it judges that a country's debt load is sustainable, a bailout may be accompanied by a restructuring of government debt. Julien Marcilly, the chief economist at Coface, a firm that provides payment insurance for French companies, said that China"went full-tilt on lending in recent years, often to countries which produce and export raw materials, in particular oil."

"It was an expected and very brutal drop in prices, which was ironically linked to a slowdown in China," noted Marcilly. The Congolese government reached an agreement with IMF negotiators a year ago, but the terms need to be approved by the IMF's governing board.A French source confirmed that the IMF programme is contingent on Congo-Brazzaville's debt becoming sustainable, which means that a deal has to be reached with China on cutting the amount owed or pushing back payments.

"For the United States it's out of the question that the IMF rescues a country that is in debt to China," the specialist said.

The picture you use for illustration has nothing to do with Congo-Brazaville. This guy is Congo-Kinshasa Prime Minister Bruno Tshibala. Please try to be more precise on such thing as it's often misleading.

Investment...what are they investing? I need to read...

ایران آخرین اخبار, ایران سرفصلها

Similar News:همچنین می توانید اخبار مشابهی را که از منابع خبری دیگر جمع آوری کرده ایم، بخوانید.

China's vast investment in Africa hits a snag in CongoWhen the plunge of global oil prices in 2014 blew a hole in the Congolese government's finances, it was China that stepped in to help.
منبع: ewnupdates - 🏆 30. / 53 ادامه مطلب »

BUSINESS MAVERICK: China, South Africa and the middle-income trapChina and South Africa seem so distant and so different. Chinese economic growth has been fabulous; over the past decade, South Africa’s has been miserable. China is enormous; SA is small… and so on. But in one singular respect, China and South Africa are similar — they may be both caught in the middle-income trap. If there is such a thing.
منبع: dailymaverick - 🏆 3. / 84 ادامه مطلب »

DR Congo arrests 11 over murder of doctor fighting Ebola - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Authorities in the Democratic Republic of Congo said they arrested 11 suspects Thursday in the murder last week of a doctor with the World Health Organization (WHO) who was fighting an Ebola outbreak in the country.
منبع: SABC News Online - 🏆 32. / 51 ادامه مطلب »