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Loans: the Republic of Congo receives debt deferral

China and the Republic of Congo have agreed to reschedule the central African nation’s debt, Nikkei Asia reports. On Monday, President Xi Jinping granted his counterpart Denis Sassou Nguesso a further dept deferral by phone. The Republic of Congo is $2.4 billion in debt to Chinese creditors. The agreement with China would also unblock stalled loans from the IMF, according to the Republic of Congo’s finance minister, Rigobert Roger Andely. The IMF had conditioned the release of $449 million on ensuring the long-term sustainability of the Republic of Congo’s debt.

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