Macroeconomic Forecast Democratic Republic of Congo

July 2008 | Ratings Update

Following the IMF's announcement in July that the US$9bn Chinese mining investment project could jeopardise the Democratic Republic of Congo (DRC)'s prospects for qualifying for international debt relief over the medium term, we believe that the chances for a reduction in the country's external debt levels are minimal this year. As a result, we have revised up our 2008 forecast for public and publicly-guaranteed external debt to US$10.44bn and believe that the potential reduction of around US$5bn will only be granted in 2009 at the very earliest.

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