International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Nov 03, 2023

The International Monetary Fund (IMF) Staff Concludes Visit to the Republic of Congo

Significant progress was made during the mission on discussions on policy measures to address fiscal consolidation and advance key structural reforms

An International Monetary Fund (IMF) mission led by Roland Kpodar visited Brazzaville from October 19 to November 02 to hold discussions under the fourth review of the authorities’ program supported by the IMF Extended Credit Facility (ECF) approved by the IMF Executive Board on January 21, 2022 . At the end of…

Source: International Monetary Fund (IMF) | May 23, 2023

International Monetary Fund (IMF) Staff Concludes Mission to the Republic of Congo for the Third Review of the Extended Credit Facility Arrangement

High global oil prices helped the country’s current account, but higher refined fuel import costs were subsidized by the government, thus widening the 2022 non-oil fiscal deficit

An International Monetary Fund (IMF) mission led by Roland Kpodar visited Brazzaville from May 8 to May 19 to hold discussions under the third review of the authorities’ program supported by the IMF Extended Credit Facility (ECF) approved in January, 2022 (see PR 22/11). At the end of the mission,…

Source: International Monetary Fund (IMF) | Feb 07, 2023

International Monetary Fund (IMF) Executive Board Concludes Second Review Under the Extended Credit Facility Arrangement for the Republic of Congo and Approves US$87 million disbursement

Structural reforms under the authorities’ program are advancing, especially in procurement, management of public finances and debt, and publication of a decree on conflict of interests

The IMF Executive Board completed the second review under the Extended Credit Facility arrangement, enabling the Republic of Congo to draw the equivalent of SDR 64.80 million (about US$ 87 million). Strengthened economic recovery is gaining momentum but risks from lower oil prices and production and weak reform implementation remain.…

Source: International Monetary Fund (IMF) | Dec 21, 2022

International Monetary Fund (IMF) Executive Board Concludes 2022 Third Review Under the Extended Credit Facility Arrangement with The Democratic Republic of the Congo

The completion of the Third Review allowed an immediate disbursement equivalent to SDR152.3 million (about US$ 203 million) to support balance-of-payment needs

The IMF Executive Board decision allows for an immediate disbursement of about US$203 million to the Democratic Republic of the Congo. This disbursement will help reinforce international reserves, given downside risks to the domestic and global economy outlook. Despite multiple shocks, economic activity has proven resilient supported by higher-than-envisaged mining…

Source: International Monetary Fund (IMF) | Dec 06, 2022

International Monetary Fund (IMF) Staff Reaches Staff-Level Agreement on the Second Review of the Extended Credit Facility Arrangement with the Republic of Congo

Economic diversification and job creation, improved management of public finances as well as governance, transparency, and financial sector reforms will be key

The IMF team reached a staff-level agreement with the authorities of the Republic of Congo on the completion of the second review under the Extended Credit Facility; Economic recovery continues, despite the deteriorating international environment; Economic diversification and job creation, improved management of public finances as well as governance, transparency,…

Source: International Monetary Fund (IMF) | Apr 20, 2022

IMF Staff Reaches Staff-Level Agreement on the First Review of the Extended Credit Facility Arrangement with the Republic of Congo

Fiscal policy will need to maintain the delicate balance between supporting a robust economic recovery while safeguarding debt sustainability

An International Monetary Fund (IMF) team led by Pritha Mitra, Mission Chief for the Republic of Congo, conducted a virtual mission with the Congolese authorities during March 31-April 18, 2022, to discuss the first review of the three-year arrangement for the Republic of Congo under the Extended Credit Facility Arrangement.…

Source: International Monetary Fund (IMF) | Sep 28, 2021

IMF Executive Board Concludes 2021 Article IV Consultation with the Republic of Congo

The COVID-19 pandemic and oil price shocks have taken a deep toll on the Congolese economy but there are signs of recovery

The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Republic of Congo on Friday, September 24, 2021. The COVID-19 pandemic and oil price shocks have taken a deep toll on the Congolese economy but there are signs of recovery. Positive non-oil economic growth is…