It is August 3, 2018 that the case of a probable financial support of the International Monetary Fund (IMF) in Congo will be debated by the board of directors of the institution. After two postponements in less than a month, President Sassou Nguesso finally holds the good end?
Indeed, according to the schedule of activities, Brazzaville’s request for the Extended Credit Facility will be examined next Friday. Thus, this highly anticipated support since 2017 by the government can be voted, if the conclusions are favorable.
a possible approval by the IMF will, in addition, mark the way for the approval and the disbursement of a 135 million euros aid from France.
A mission of the institution had consulted in April 2018 in the country, but had put the government on hold of the conclusions of the council.
With a debt of 9.5 billion dollars, about 110% of the GDP, and the IMF demands a restructuring, the Congo still struggles to mobilize public revenue.
According to an announcement made Friday, July 20 by Calixte Nganongo, the Minister of Finance, only 1.160 billion FCFA are announced to be collected during the year, against an initial forecast of 1.6 trillion in the law of finance, a down 27.5%.
