By RFIPosted on 15-11-2018Modified on 15-11-2018 at 00:11
A delegation of the International Monetary Fund has left Brazzaville without announcing an agreement for financial support to Congo on Wednesday 14 November. Progress has been made but the public debt remains heavy.
This time Brazzaville has made quite a good impression to believe the head of the IMF mission, Alex Segura-Ubiergo, who does not hesitate to discuss the progress of the Congo and promises a positive report back in Washington.
The IMF wanted to be explained in detail what is called the macroeconomic framework, namely projections in terms of budget, inflation and growth. As the Congo has begun to clean up its public finances and has taken a number of measures in the direction of good governance, the IMF has welcomed it.
However, if everything is not black, nothing is pink yet. The IMF recalls that the public debt remains unsustainable and that in the absence of agreement with its external creditors, Brazzaville can not hope for financial assistance.
China, which holds 35% of Congolese debt, for more than two billion dollars, is urged by the IMF to make a gesture to alleviate the Congolese burden, but Beijing, which is negotiating with Brazzaville, has not announced anything yet.
In addition, discussions with oil traders who hold 30% of Congolese debt are also dragging on.
We have seen a recovery from the oil sector, but with a very low growth rate in non-oil sectors.
Alex Segura-Ubiergo, head of the IMF mission in Brazzaville
14-11-2018 - By Loïcia Martial
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