JOHANNESBURG The International Monetary Fund's (IMF) executive board approved a bailout worth nearly $449 million for OPEC member Congo Republic on Thursday, potentially setting a precedent for other nations struggling under the weight of large debts to China.
JOHANNESBURG Construction firm Commisimpex is calling upon the International Monetary Fund (IMF) to make settlement of its 1.2 billion euro ($1.35 billion) debt dispute with Congo Republic a precondition for a bailout deal, according to a letter seen by Reuters.
* Will not sell equity stakes to Saudi's SAMI
(Writes through with quotes, details)
ABIDJAN/JOHANNESBURG Ivory Coast and Ghana - the world's leading cocoa producers - failed on Wednesday to come to an agreement with the chocolate industry over how to introduce a new floor price for their exports.
* Cocoa and chocolate companies do not agree with details
(Updates with outcome of meetings)
ABIDJAN/JOHANNESBURG U.S. food maker Mars Inc. supports a decision by Ivory Coast and Ghana to set a floor price for their cocoa exports, a senior executive told Reuters on Wednesday, becoming one of the first major chocolate companies to back the initiative.
EDOUKOUKRO, Ivory Coast/JOHANNESBURG Kouakou Kinimo is a pretty typical Ivory Coast cocoa farmer. He works a small holding. At 52, he's roughly the mean age for a West African grower. And, like many farmers, he doesn't want any of his six children to follow in his footsteps.
PRETORIA African countries running up debt they won't be able to pay back, including to China, should not expect to be bailed out by western-sponsored debt relief, the United States' top Africa diplomat warned.
* 2019 FDI seen bolstered by new U.S. law, AfCFTA
JOHANNESBURG/LONDON Advisers to Congo Republic's government have warned it that there is a "major risk" the International Monetary Fund (IMF) will reject its bid for a long-sought bailout, according to a letter obtained by Reuters.