Debt and Kabila's Congo
Foreign creditors have shown "some understanding" with regard
to foreign debts inherited by President Laurent Désiré Kabila's
government in the Democratic Republic of Congo (DRC). The country's debt
stock is some $12-14 bn, says Mr. Jean-Marie Mbala, an adviser to the Minister
of State for Planning and Trade. "We have [told creditors]: this is
a new government that came in to find the state coffers empty. At least
let us start tidying up to get ready and get going. But then the partners
say: 'Be careful, tomorrow you will be excluded from this, ineligible for
that.'"
The DRC is paying "about $5 mn a month in debt service," Mr. Mbala told Africa Recovery during the ECA conference in May. He said: "Now, you should not really ask someone with an amputated leg to run the 100-metre dash. At least you help the person get another leg first, do some physical therapy, get stronger and then move with you."
Mr. Jean-Marie Mbala
Photo: Nii K. Bentsi-Enchill
