At the end of a working week with the Congolese party, the head of the IMF delegation in Brazzaville, Alex Segura-Ubiergo, interviewed by the press, said on Wednesday 14 November 2018, that “the Mission has been satisfactory”. 

 In a review of this mission, Alex Segura-Ubiergo explained: “We have seen a recovery in the overall situation in relation to the oil sector. However, there is a low growth rate in the non-oil sector, which is in a difficult situation". According to him, the Congolese authorities have expressed their wish to mobilize more revenue in this sector, and have made major efforts in the management of public finance and governance.

“We shared with the Congolese authorities our opinion on some reforms that could be implemented quickly”, he added.

Concerning the debt, the IMF head of Mission said that the debt situation is improving. Because, according to him, the economy as a whole, begins to recover, thanks to the oil sector. Hence, a more positive evolution than expected of the debt. However, he stressed, the Congolese public debt is still unsustainable. We must therefore continue discussions with external creditors to find solutions, the head of Mission recommended. 

Alex Segura-Ubiergo recalled thatoneof the elements of his mission was to update the macroeconomic framework (i.e. the state of budget execution, the situation of growth, inflation…). A necessary exercise to have an updated Report.

“In short, we will return to Washington, write our report which will be positive on the progress of the discussions. There will be an internal discussion to see when the long-awaited Agreement with the IMF will be finalized”, the Head of the Mission concluded.

The press Office of the Ministry of Finance.