Thursday, November 2, 2023 in Brazzaville, Jean-Baptiste Ondaye, Congolese Minister of Economy and Finance, received the end of technical mission report from the delegation of the International Monetary Fund (IMF), led by the Togolese Roland Kpodar. This mission spent 14 days in Congo, to finalize the collection of data relating to the fourth review of the Program supported by the Extended Credit Facility (ECF), signed in January 2022.

During this period, the IMF mission exchanged views with the Congolese party on various subjects, including: the outlook for the Congolese economy in the medium term; the execution of the 2023 budget as of June 30 and the projections as of the end of December; debt; government bank financing and the monetary sector; the implementation of reforms and structural benchmarks.

According to the Minister of Economy and Finance, the mission “appreciated the progress made by the Government in the implementation of the Program. The Medium-Term Budget Framework (CBMT) and the Draft Memorandum of Economic and Financial Policies that this mission resulted in are proof of this.”

However, Jean-Baptiste Ondaye recognized that “progress remains to be made by the Congolese Government before November 15, 2023, the deadline for transmitting files to the IMF Executive Board.”

He reassured that the technical teams of the Congolese side remain mobilized to continue the work and make the fourth review a success.

As a reminder, since the signing of the three-year program supported by the Extended Credit Facility (ECF) with the IMF in January 2022, the Congo has concluded, for the first time, three successive half-yearly reviews.

The Communication Unit of the Ministry of Economy and Finance