Congo Republic Offers $182 Million of Bonds to Help Repay Debt
The bonds will help fund the building of new infrastructure.
Photographer: Samir Tounsi/AFP/Getty Images
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The Republic of Congo offered 100 billion CFA francs ($182 million) of five-year domestic bonds to help repay debt and fund development projects, Finance Minister Calixte Nganongo said.
The sale of the securities forms part of a plan to revive growth in the central African nation, after a six-year economic contraction, Nganongo said in a phone interview Tuesday from Brazzaville, the capital. The economy is forecast to expand this year for the first time since 2015, according to the International Monetary Fund.