Katanga Mining Ltd Ord KATFF

RE:The Congo needs this to work as well...

[bigguy56]

here is the text from the links. Republic of the Congo - 119.1 per cent of GDP Republic of the Congo depends heavily on oil production for their national economy, which means that the price of crude oil can have a huge effect on the African nation. In 2017, the price of crude dropped, leaving the Congo Republic in a position where it became more difficult to pay their debts. Congo Republics public or publicly guaranteed debt stood at 5.329 trillion CFA francs, or around $9.14 billion, at the end of July, the International Monetary Fund said at the end of an assessment mission on Wednesday. The amount, which equates to around 110 percent of the oil producers gross domestic product, does not include debt under litigation, it said. Congos economy, which is heavily dependent upon revenues from oil exports, has been hit hard by the drop in global crude prices and the government has entered negotiations with the IMF to try to secure a financial assistance programme. The findings of the mission will inform the next steps toward a possible IMF-supported programme to restore macroeconomic stability, and promote sustained and inclusive growth, said Abdoul Aziz Wane, who headed the IMF delegation. Congos debt load has come under scrutiny from the IMF. Construction firm Commisimpex has gone to a French court in its fight with the Congo Republic over what it says are more than $1 billion in unpaid bills, the latest step in a decades-old saga that has weighed on the nations economy.