Congo (DRC)

    China and the Congo (DRC) have agreed to change the terms of the biggest Chinese investment deal in Africa. IMF Country Director Brian Ames said the changes to a minerals-for-infrastructure deal, initially valued at USD 9 billion, should allow Congo to push ahead with a request for debt relief. Originally, a consortium of Chinese companies agreed to build roads, railways, hospitals and universities in return for the right to develop a copper and cobalt mine. But pressure to alter it had come from western donors that refused to offer Congo relief on historic debt of USD 11 billion because of concerns over state financial guarantees the deal contained. (Dow Jones, Financial Times)

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