IMF halts Congo loan due lack of mining transparency

KINSHASA Mon Dec 3, 2012 10:04am EST

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KINSHASA Dec 3 (Reuters) - The IMF has halted $240 million in planned loans to Democratic Republic of Congo for failing to publish mining contracts as requested, the IMF's representative in Congo said on Monday.

Congolese authorities last week published a note on the 2011 sale of its stake in a mine run by ENRC but Oscar Melhado told Reuters that the information provided fell short of what was needed to complete the loan payements.

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