Wednesday, August 19, 2009

Kinshasa adjusts deal with China

It is interesting to hear that the IMF is now closer to giving the DRC a loan after Kinshasa agreed to "adjust" the $9 billion deal with China. "The DRC will put a third of the investment “on the back-burner” and withhold a state guarantee on another third for 25 years to assuage IMF concerns that it would add to the country’s US$11 billion external debt."

What a weird state of affairs; there was the "hype" man back in April stretching out the begging bowl asking the Chinese to prop those instruments, the IMF and World Bank, that facilitate Anglo-Saxon domination of the planet and there we have today those very same instruments making sure that the DRC backtracks on its agreement with the PRC. What might they be thinking in Beijing?

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