Denis Sassou-Nguesso asks Pekin to restructure Congo-Brazzaville's debt

Congolese President Denis Sassou Nguesso and Chinese President Xi Jinping in Beijing on July 5, 2016. AFP / Ng Han Guan

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2 min

Congolese Head of State Denis Sassou-Nguesso spoke on the phone Monday, June 21 with his Chinese counterpart Xi Xiping to whom he asked to restructure the colossal debt of Congo-Brazzaville, considered unsustainable, which prevents the country from resuming language with the International Monetary Fund (IMF).

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With our correspondent in Brazzaville,

Loïcia Martial

The exchange between the two statesmen lasted half an hour.

They reviewed the cooperation between Brazzaville and Beijing.

Three members of the government assisted President Denis Sassou-Nguesso, including Finance Minister Rigobert Roger Andély.

“

The two presidents obviously raised the issue of debt, which is currently an obstacle to concluding and pursuing good relations with the IMF. Our president asked his peer the question and made him a proposal. Since 2019, he said, the Covid-19, the crisis has worsened on our side and the debt has become even more unsustainable. Isn't it time to make a second restructuring to allow the country to have a little more resources to face its internal needs, then to remove this obstacle to good relations with the IMF

?

The Chinese president gave a favorable response to his counterpart's request, according to Minister Rigobert Roger Andély: "

The two presidents have agreed to refer the issue of the second round of debt restructuring to Chinese and Congolese experts in order to be able to fix it. the terms and conditions,

”he said.

In 2019, China had already restructured the Congo's debt, which currently owes it 1.3 trillion CFA francs out of an overall debt of over 6 trillion CFA francs.

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  • Congo Brazzaville

  • China

  • Denis Sassou-Nguesso