Congo,China to reach deal on debt

China is considering canceling or rescheduling the Congolese debt deal. Beijing holds 35% of Brazzaville’s debt.

This comes as good news for a country with a limping economy, that is struggling to recover from the fall in oil prices

The Congolese government received a letter from the Chinese government and another from Exim Bank, the main creditor of the Congolese debt to China according to the Chinese ambassador in the country.

The Chinese diplomat appears reassuring, as negotiations in this regard have already been completed, he points out. An agreement could be signed between the two parties within three months.

Congolese public debt represents 110% of its target domestic product. An agreement with Beijing would allow Brazzaville to look forward with a little more serenity to the continuation of its negotiations with the International Monetary Fund