http://www.businessweek.com/news/2010-07-01/imf-world-bank-support-debt-relief-for-congo.html
This article discusses how on July 1, 2010 debt collectors have agreed to give the Congo enough money to wipe all of their debts away and let them not have any more economic stress as of now. The article states, "The International Monetary Fund and the World Bank agreed to support $12.3 billion in debt relief for the Democratic Republic of Congo, erasing obligations almost the size of central African country’s economy." It then states that the country was celebrating its 50th anniversary from becoming independent from Belgium and the 8 million dollars was announced just after that. Canada has brought this to their government and they don't think this is fair so they are going after Congo's resources. But, this did not pass for Canada and Congo has kept all of the money the IMF has given them.
I think this article is really interesting because the debt collectors are doing a very gracious thing for the Congo in given them this money. It allows the country to get back on top and improves their governance. Just as long as the Congo does not go over on their debts again the IMF will keep the money in the Congo.
Why did the IMF decided to give 8 million dollars to the Congo?
Why did they do it two days after the 50th anniversary of celebrating their freedom from Congo?
Will the debts cancels all the debts int he past?
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