China's vast investment in Africa hits a snag in Congo

China's investment strategy of throwing money at developing countries appears to have hit a snag in the Republic of Congo as the central African nation is seeking an IMF bailout.

While the funding it provided to Congo wasn't part of the Belt and Road Initiative (BRI), which China was promoting this week, it serves as a cautionary tale of the trouble Beijing could face with its plan for massive investments in maritime, road and rail projects across 65 countries from Asia to Europe and Africa.

When the plunge of global oil prices in 2014 blew a hole in the Congolese government's finances, it was China that stepped in to help.

But despite the recovery of oil prices, the country, also known as Congo-Brazzaville, has had trouble getting back on top of its finances and has asked the International Monetary Fund for help.

The IMF places conditions on its loans to force governments to take measures to boost their finances. In addition, as the IMF can only lend if it judges that a country's debt load is sustainable, a bailout may be accompanied by a restructuring of government debt.

"It's certainly the first time China has found itself confronted with this kind of situation," said a specialist in relations between China and Africa who asked her name not be used as the discussions with IMF were still underway.

"The Republic of Congo is seeking IMF protection in order to avoid a possible default on its payments," she added.

"China, which holds more than a third of its foreign debt, is not really comfortable with that."