China Agrees Congo Republic-Debt Restructure, Minister Says
- Restructuring is among preconditions sought by IMF for bailout
- Congo owes Chinese, other creditors more than $9 billion
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China agreed to restructure debt owed by the Republic of Congo -- one of a series of preconditions sought by the International Monetary Fund before it grants the debt-laden central African nation a bailout.
The restructuring was agreed April 29 at a meeting between a high-level Congo government delegation and officials in Beijing, Congolese government spokesman Thierry Moungalla said by phone from the capital, Brazzaville. The details of the restructuring aren’t immediately available, he said.