IMF Halts Congo Loan Over Refusal to Publish Details of 2011 Mining Deal

Bloomberg reported that the IMF has halted Congo’s $532 million, three-year loan program over controversy that the DRC would not publish details of a 2011 mining deal.

As quoted in the market report:

Congo had asked the IMF for a sixth-month extension to complete the program, which was set to expire Dec. 10, according to Melhado. The fund denied the request because of the problems with the Comide contract and because it wouldn’t provide enough time to reform Congo’s state-owned companies, he said.

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