Perri Goldstein

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The International Monetary Fund (IMF) and World Bank, both major creditors to the DRC, were not pleased with the new debt load on the Congo and the “other means” clause in the agreement, particularly if it led to the loss of collateralized mining assets on their loans. The IMF and World Bank pressured Kabila to renegotiate terms. In December 2009, the “other means” clause of the agreement was removed, and the total loan amount was reduced from $9 billion to $6 billion. Under the new terms, SICOMINES agreed to pave 6,600 kilometers of road and to build two hospitals and two universities in ...more
Cobalt Red: How the Blood of the Congo Powers Our Lives
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