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Vol 2 (AAC) No 8

Published 1st June 2009


Congo-Kinshasa

Tug of war

The IMF has scored some points in its battle with China over the mining-for-infrastructure deal but a final decision is unlikely before year's end

The International Monetary Fund's pressure on Kinshasa has led to the first sign of the government buckling. At the end of 2007, President Joseph Kabila's government agreed a US$9 billion deal with a consortium of Chinese companies to build railways and other infrastructure in exchange for access to minerals. The IMF said that it would hold off on any aid to the cash-strapped Treasury until the details of the contract were known and the non-concessional terms and addition to the burden of foreign debt were removed.

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