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Vol 5 (AAC) No 1

Published 1st November 2011


Congo-Kinshasa

IMF worried about Chinese loans again

The award of the copper and cobalt mines at the Lonshi and Frontier sites to the Hong Kong company Fortune Ahead Limited is causing concern at the International Monetary Fund. Congo-Kinshasa’s Finance Minister Augustin Matata Ponyo revealed in a 27 September interview on Radio Okapi that the conclusion of the fourth review of the government’s economic programme by the IMF was ‘uncertain’. As such, the transfer of the last three tranches of the Extended Credit Facility, totalling some US$94.6 million, is not a done deal.

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