China agrees to reschedule $2.4 bln Congo Republic's debt - minister

President Denis Sassou Nguesso made the request in a phone call on Monday with his Chinese counterpart, who accepted, Andely said. The two presidents agreed to refer the issue to experts from both countries to set the terms and conditions, he added.

Chinese President Xi Jinping has agreed in principle to reschedule a Congo Republic debt, estimated at 1.3 trillion CFA francs ($2.4 billion), Finance Minister Rigobert Roger Andy said on Monday.

Andy told a news conference that the debt had become unsustainable since a partial restructuring in 2019 due to the shock caused by the coronavirus pandemic and that an extension of the deadline was now needed. President Denis Sassou Nguesso made the request in a phone call on Monday with his Chinese counterpart, who accepted, Andy said. The two presidents agreed to refer the issue to experts from both countries to set the terms and conditions, he added.