Financial Times FT.com

Congo’s fiscal straits add to pressure

By Barney Jopson in Kinshasa

Published: February 9 2009 20:20 | Last updated: February 9 2009 20:20

The Democratic Republic of Congo’s commitment to the original China deal has also been compromised by the dire state of the country’s public finances and the pressing need for short-term emergency loans, for which it needs to curry favour with the World Bank and International Monetary Fund.

The country’s fiscal position has deteriorated rapidly since last October when a surge in military expenditure related to a conflict in eastern Congo coincided with the downturn in commodity prices, which strangled tax and export revenues.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this