Debt is higher than reported
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.