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Congo Republic: Traders agree debt deal
Brazzaville has made significant moves towards unwinding its complex debt burden with the surprise announcement on 7 April that it had reached agreement on its outstanding debt to traders Glencore and Trafigura, and local financier Lucien Ebata’s Orion Oil. The deal, signed by Prime Minister Clément Mouamba, involves a 30% debt haircut and four months’ grace before repayments start in October.
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