China's vast investment in Africa hits a snag in Congo via SABCNewsOnline
China’s investment strategy of throwing money at developing countries appears to have hit a snag in the Republic of Congo as the central African nation is seeking an International Monetary Fund bailout.
The IMF places conditions on its loans to force governments to take measures to boost their finances. It is only now that “Beijing is beginning to realise that problems can build up”, in particular after Venezuela defaulted. About one-third of the country’s debt is in Chinese hands, or about $2-billion, said the specialist in relations between China and Africa.
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