Word: congos
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...Making Congo-Belgian unit...
...crowd of swinging, singing diplomats and politicians filled Leopoldville's Manhattan Bar last week as the Congo's famed O.K. Jazz Band serenaded the honored guest with its improvised Spaak Cha Cha. As the first member of the Belgian government to visit the Congo since his country prematurely and disastrously thrust its former colony into independence, Foreign Minister Paul-Henri Spaak might have expected far harsher words of welcome...
...Belgians and Congolese are making moves to get together again. With the United Nations' peacekeeping force due to pull out in three months, Premier Cyrille Adoula's shaky government needs all the help it can get. And with 60,000 Belgians still living and working in the Congo (compared with 100,000 before independence). Brussels is eager to re-establish political and military influence...
...Portfolio. The major obstacle has been the contentieux-a number of financial and legal bones of contention left over from the Belgian colonial administration. First on the list was the Congo's preindependence debt of $920 million. Brussels, which had backed $240 million of the debt, was willing to honor its share but insisted that the Congolese help pay the rest...
Then came the question of who owned the ex-colonial government's bulging stock portfolio. In return for mining, forestry and transport concessions, Congo-based private companies had paid the colony in stock. As a result, the colonial government controlled nearly 20% of Katanga's wealthy Union Minière, had control of diamond mines in Kasai province and hundreds of smaller concerns. At independence, the portfolio was worth more than $700 million; it has since skidded to less than half that value. More than any other economic factor, the desire to keep control of Union Mini...