Congo: Details of the $43 million granted by the IMF

The International Monetary Fund (IMF) has greenlit approximately $43 million in funding for the Republic of Congo as part of the extended credit facility initiated in 2022.

This approval comes after four reviews of the three-year program, highlighting the effectiveness of the country’s structural reforms.

This move by the IMF affirms the eligibility of President Denis Sassou-Nguesso’s administration to secure necessary funds from the international financial market.

The Republic of Congo’s inflation rate stands at 3.7%, above the community standard of 3%, indicating an improvement in the country’s macroeconomic situation.

Despite these positive indicators, some civil society members and Congolese political actors express concerns about governance deficiencies.

According to the IMF, Congo’s economic growth is projected to be around 3.5%.

However, many Congolese citizens feel the burden of the IMF’s structural reforms on their daily lives.

The government remains optimistic, promising that the country could see significant improvements by next year.

Jean-Robert TCHANDY