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Ivorian Foreign Minister discusses trade in Turkey, wants resolution committee for Ukraine/Russia war

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Ivorian Foreign Minister Kandia Camara, in Ankara on Tuesday, discussed trade opportunities with her Turkish counterpart Mevlüt Çavuşoğlu.

Camara, on the 8th day of her working stay in Turkey, met Çavuşoğlu where the officials discussed business and trade as they touched on ways to strengthen bilateral relations.

The Ivorian minister hinted the agricultural sector would experience significant transformations in the coming years, increasing investment opportunities if Turkey invests more than 200 million dollars in the West African country.

During a press conference, she addressed the war in Ukraine and called for the creation of an international conflict resolution committee: “It would be good if there were a committee bringing together the Foreign ministers of all regions of the world to anticipate potential conflicts between countries

“That committee would travel from capital to capital, and gather the parties at war, bring them around the table to negotiate and find peaceful solutions through diplomacy, discussion, and dialogue. This is what you have succeeded in doing here in Ankara by inviting the foreign ministers of Russia and Ukraine”,she said further.

The Foreign Ministers also discussed health and education. Camara said the countries had signed a deal for Ivorian aspiring nurses and doctors to be able to come study in the transcontinental country.

Turkey is the first country to which Ivorians go for medical care“.

She added, the two countries would discuss how to increase the number of scholarships Ivorian students could be offered to pursue their education in Turkey.

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Congo DR: President Tshisekedi visits China for mining renegotiations 

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The President of the Democratic Republic of Congo, Félix Tshisekedi is currently on a visit to China to strengthen his country’s partnership with the Asian giant.

An official of Congo DR, Erik Nyindu Kibambe, while addressing journalists in Beijing, revealed that the trip was meant to be for the renegotiation of mining contracts. Kibambe maintained that talks were going “wonderfully.”

The president had previously promised to renegotiate mining contracts, in particular, the one signed in 2008 with China by his predecessor, Joseph Kabila (2001-2019), for better terms in favour of the country.

The president was received by a cheering audience and a line of honour and jubilant children between meetings with Mr Xi and Premier Li Qiang.

Mr. Li told Mr Tshisekedi that he believed “China-DRC relations will surely achieve greater development and benefit both peoples.”

A statement by the Chinese foreign ministry revealed that the countries were upgrading “the bilateral relationship from a win-win strategic cooperative partnership to a comprehensive strategic cooperative partnership.”

Congo is one of the most natural resource-rich nations, holding massive untapped deposits of minerals including cobalt, copper, diamonds and gold amounting to approximately $24 trillion.

China is a major investor in the country where it leads the lucrative mining sector with firms like Sicomines.

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Kenya, IMF agree terms for $3 billion Extended Credit Facility

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Kenya has reached an agreement that could unlock more than $3 billion of new financing with the International Monetary Fund (IMF).

The international lender and the country said the agreement could help relieve pressure on government finances in East Africa’s largest economy.

The agreement is the fifth review of Kenya’s External Credit Facility and Extended Fund Facility arrangements, an extension of the program and augmentation for access under a 20-month Resilience and Sustainability Facility.

Under the agreement, Kenya will get access to $544 million through the Resilience and Sustainability Facility, which is intended to support climate change adaptation and resilience. A total of $3.5 billion had been committed to funding for Kenya under the three facilities, and its executive board would likely consider the staff-level agreement in July.

The IMF stated that the medium-term outlook for the Kenyan economy remained favourable, although the economy had been strained by a challenging external environment. The IMF maintained that the planned fiscal consolidation was appropriate, while also protecting priority social spending.

“Exchange rate flexibility and proactive monetary policy will remain critical to preserving macroeconomic stability and supporting market confidence against the backdrop of a challenging global economic outlook and continued uncertainty in international financial markets,” IMF said in a statement.

Kenya has insisted that it would not default on its debt repayment obligations despite delayed payment of civil service salaries.

The country in April revealed plans to issue a new Eurobond to manage 2024’s maturity of a Ksh270 billion ($2 billion) 10-year bond.

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