ROC Debt China IMF27 Apr 2019 15:23
https://www.journaldebrazza.com/au-congo-largent-chinois-tombe-sur-un-os/
""Creditor Logic"
The political context is also not favorable to Brazzaville: in the United States, first shareholder of the IMF, fifteen elected officials wrote in August to the US Treasury Secretary, Steven Mnuchin, to exercise its influence to " to prevent programs "with countries too indebted with Beijing.
"For the United States, it is out of the question that the IMF comes to the rescue of countries in debt with Beijing," said one of the sources consulted.
Consequence: "the Fund has established a balance of power in a logic of creditor. He wants to be reimbursed at the end of the program and therefore ensures that the debt is sustainable, "according to a French source.
"It was not until the Fund's spring meeting in mid-April that China took part in discussions on the program with Brazzaville. Until then, it only dialogued bilaterally " with the Congo, according to the specialist of Sino-African relations.
The meeting yielded results: "China has made efforts, it is progressing," assured a Congolese source on the sidelines of the recent meeting of the Fund, citing "a problem of interpretation of what Beijing has indicated for months" .
"We hope that the program will be approved by the next meeting of the IMF's Executive Board in June," she added.
"We understand that it is very well, but it is not signed yet , " said a French source. The French presidency of the G7 has set as a priority the transparency of loans with developing countries, especially African, where Paris is guarantor of the CFA franc."
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