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Hong Kong court decides to seek national legal interpretation over debt dispute between U.S. company, DR Congo

Xinhua - June 8, 2011

The Hong Kong Court of Final AppealThe Hong Kong Court of Final Appeal on Wednesday issued a majority judgment, in which it decided to seek legal interpretation from the Standing Committee of the National People's Congress over a debt dispute between a U. S. investment fund and the Democratic Republic of Congo.
China, DR Congo see great potentials for further cooperation

Xinhua - January 13, 2011

Chinese Vice Premier Hui Liangyu meets with President of the Democratic Republic of Congo  Joseph Kabila in KinshasaVisiting Chinese Vice Premier Hui Liangyu met in Kinshasa on Wednesday with President Joseph Kabila of the Democratic Republic of Congo with both saying that there are great potentials for further cooperation between the two countries.
DR Congo Decries Loss of Favored US Trade Status

VOA News - December 22, 2010

Lambert MendeThe Democratic Republic of Congo is criticizing the loss of its status as a favored U.S. trading partner. An order from President Barack Obama Tuesday stripped the DRC of its status as a beneficiary of the African Growth and Opportunity Act.
Paris Club cancels 7.35 billion of Congo debt

Paris Club - November 17, 2010

Paris ClubAs a contribution to restoring the DRC’s debt sustainability, the Paris Club creditors will provide a cancellation of USD 7.35 billion, fulfilling all their commitments under the enhanced HIPC initiative. Paris Club creditors expressed their concern over the business environment and urged the Government of the DRC to carry out further reforms to improve governance, strengthen the rule of law and fight corruption.
IMF, World Bank Grant $12.3 Billion Debt Relief for DR Congo

International Monetary Fund - July 1, 2010

IMF - CongoThe IMF and the World Bank decided June 30 and July 1, respectively, to grant debt relief worth $12.3 billion for the Democratic Republic of the Congo. The decision of the IMF and World Bank Executive Boards will generate total debt service savings of $12.3 billion.
Tullow Oil loses Congolese permit on Lake Albert

BBC News - June 24, 2010

Lake AlbertThe Congolese government has given an oil permit claimed by Tullow Oil to a rival consortium. The oil ministry says the permit is invalid as president Kabila did not approve it. The government has given the permit to a rival consortium that includes South Africa's state oil company PetroSa.
Prime Minister Adolphe Muzito Faces Skeptical MPs

Radio Okapi - April 28, 2010

Congo Parliament - KinshasaWhile acknowledging that pockets of insecurity still remain, Adolphe Muzito said that the country’s security situation was generally good. He also said that improving relations with neighboring countries has played a key role in returning peace to the country.
$215 Million Central Africa Backbone Program Will Bring Low Cost, High Speed Internet to the Region

World Bank - October 6, 2009

Banque MondialeToday the Executive Board of Directors of the World Bank Group has announced its endorsement of the $215 million, ten-year Central African Backbone Program (CAB Program). This program will support the countries of the Central African region in developing their high-speed telecommunications backbone infrastructure to increase the availability of high-speed Internet and reduce end-user prices.
OECD says African Economic Growth Will be Cut by Half

VOA News - May 11, 2009

SADCFour African countries, the Seychelles, Democratic Republic of Congo, Angola and Chad, are expected to see their growth rates decline. South African growth is also expected to drop to 1.1 percent, dragging down other economies in the region. The Central African Republic will be hardest affected by the crisis, with only 0.2 percent growth expected.



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