Congo is seeking to obtain new international financing by reconnecting with the International Monetary Fund (FMI). During a meeting held on 12 October 2026 in Bangkok, Minister of Finance Christian Yoka and World Bank Vice President for Africa Ousmane Diagana discussed the possibility of budgetary support contingent upon the conclusion of a new program with the FMI.
This prospect could enable Brazzaville to mobilize additional resources to finance its economic and fiscal reforms. This initiative follows the FMI mission conducted from 24 September to 7 October 2026.
Discussions focused on the country's economic situation and measures likely to accompany a new program under the Extended Credit Facility. According to the Ministry of Finance, four priorities were identified: controlling public debt, improving tax revenues, streamlining expenditures, and reducing oil subsidies.
The FMI confirmed progress in the negotiations, which are set to continue with a view to reaching a technical agreement. For Brazzaville, the conclusion of this program offers financial interest beyond the resources the FMI could directly provide.
An agreement would also strengthen financing prospects with other partners, particularly the World Bank. The government thus seeks to consolidate its public finances while maintaining its capacity to fund investments and continue the clearance of its domestic debt, particularly claims held by private companies.
Indeed, during discussions with Ousmane Diagana, the World Bank and Congolese authorities examined possibilities for supporting fiscal and economic reforms. The talks also covered the coordinated mobilization of resources from multilateral and bilateral partners to reform the electricity sector, as well as the restructuring of the World Bank's current portfolio.
A new partnership framework, prioritizing large-scale projects, is also under preparation. The envisaged budgetary support and project financing, however, fall under distinct mechanisms.
The Congolese government intends to integrate these negotiations into its public finance recovery strategy. Its 2027 budget project notably plans to bring the debt-to-80,9 ratio down to PIB%, compared to the 88,6% expected in 2026.
The conclusion of a program with the FMI could thus facilitate access to external resources intended to support reforms and public investments. Discussions remain open, however, and any new financing will be subject to an agreement and the required approval procedures.
Idrissa Diakité Published on 19/10/26 10:35 The Editorial Staff