IMF delegation concludes mission in Congo for credit facility review

The Executive Director of the International Monetary Fund for Africa Aivo Andrianarivelo paid a working visit to the Republic of Congo from July 3-8.

The IMF delegation has been meeting with the new Congolese government to access their economic standing for a credit facility.

After meeting with various personalities, the team concluded their visit by conferring with Prime Minister Anatole Collinet Makosso.

"If we came here, it is not only to observe but especially to listen to the country and the Congolese people. This will continue and we hope that this exchange would allow for a better future on the collaboration between the International Monetary Fund and the Republic of Congo'', Andrianarivelo told reporters after the meeting in Brazzaville Thursday.

The exchanges were fruitful but that will have to be confronted with figures to consider the resumption of the three-year program.

"They have shown a lot of ambition. Yes, they have a lot of projects, but afterwards, we should see about the figures...and only afterwards when we will make a global evaluation of the situation, and you will see the continuation in due time", The IMF’s Executive Director for Africa added.

The last review by the IMF in the Congo was on February 21, 2021.The central African nation signed a 3-year economic cooperation agreement with the Fund in July 2019. The Congolese authorities are hoping to reach the same conclusion as in the first review for an Extended Credit Facility agreement.