Debt is higher than re­ported

The Star Early Edition - - BUSINESS REPORT -

CONGO Repub­lic’s debt is higher than was re­ported dur­ing an IMF mis­sion in March to dis­cuss a pos­si­ble pro­gramme. Author­i­ties did not fully dis­close their debt sit­u­a­tion un­til June, a spokesper­son for the fund said on Fri­day. “Congo had not com­pleted a full disclosure of its debt sit­u­a­tion at the time of the March 2017 mis­sion to dis­cuss a pos­si­ble pro­gramme sup­ported by the IMF,” the spokesper­son said. Congo is cur­rently in a dis­pute with bond hold­ers and rat­ing agen­cies over what they say is a de­fault on the lat­est coupon pay­ment of its $363 mil­lion (R4.87 bil­lion) Eurobond. Congo de­nies de­fault.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.