On 2 December 2016, the Senate adopted the bill authorizing the ratification of the protocol establishing the African Monetary Fund (AMF). Objective of the Fund: To establish an African sovereign financial institution, with a view of promoting macroeconomic stability and sustainable economic growth that will facilitate the effective integration of African economies.

Despite the difficult regional and global economic conditions caused by falling commodity prices, the African Development Bank (AfDB) will continue to finance development operations in the Republic of Congo.

The Minister of Finance, Budget and Public Portfolio successively presented the 2017 draft budget and finance bill to members of Parliament and senators on November 4, 2016. This bill comprises, on one hand, a general balanced budget in income and expenditure of 2729 Billion 329 Million CFA Francs, as against 3608 Billion 729 Million CFA Francs in 2016, a 24.37% decrease, and on the other hand, a balanced State budget In income and expenditure of 2744 Billion 77 Million CFA Francs, as against 3623 Billion CFA Francs in 2016, representing a decrease of 24.26%.

The announcement of the convertibility of the CFA Franc to the Chinese Yuan has had diverse interpretation in Congo as well as in other French colonies using the CFA Franc as currency.

The new Minister of Finance, Budget and Public Portfolio, Calixte Nganongo does not hide his ambition of dictating a new management style at the helm of his ministerial department.

After carrying out the « Master’s Tour » on the 25 July 2016 at the headquarters of his Ministry, Calixte Nganongo, Minister of Finance, Budget and Public Portfolio started a series of surprised visits to the Brazzaville Public Treasury.

In order to understand the working conditions of services under his command and after about four months at the helm of the Ministry of finance, budget and public portfolio, Calixte Nganongo, accompanied by members of his cabinet, on Thursday 1 September visited the Directorate of Customs and Indirect taxes in Brazzaville. This came after a similar visit some weeks ago to the Directorate General of Public Treasury.