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Paris Club cancels 7.35 billion of Congo debt

Paris Club - November 17, 2010

Paris ClubAs a contribution to restoring the DRC’s debt sustainability, the Paris Club creditors will provide a cancellation of USD 7.35 billion, fulfilling all their commitments under the enhanced HIPC initiative. Paris Club creditors expressed their concern over the business environment and urged the Government of the DRC to carry out further reforms to improve governance, strengthen the rule of law and fight corruption.
Paris Club, Congo agree on debt restructuring plan

Paris Club - February 25, 2010

Paris ClubParis Club creditors agreed on 25 February 2010 with the Government of the Democratic Republic of Congo to a restructuring of its external public debt, following the approval by the International Monetary Fund (IMF) of a new three-year arrangement under the Extended Credit Facility on 11 December 2009.
Statement by IMF Managing Director Strauss-Kahn at the conclusion of his visit to the DRC

IMF - May 25, 2009

Dominique Strauss-KahnI welcomed President Kabila's agenda for tackling critical social and infrastructural needs, and which warrant increased public spending. Of course, such spending should take place within a clear debt sustainability framework "IMF staff are finalizing negotiations on a new program under the Poverty Reduction and Growth Facility, pending an outcome, consistent with debt sustainability, to the mining and infrastructure cooperation agreement between DRC and China.



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