The Republic of Congo and the International Monetary Fund (IMF) will continue negotiations on a new financing programme in the coming weeks, as announced by the Fund on 8 October. The talks cover, in particular, the state's payment arrears and the difficulties facing the electricity sector, two issues that affect the financing of the economy.
Following a mission held from 24 September to 7 October in Brazzaville, IMF staff report significant progress but do not announce a staff-level agreement. The statement sets no financing envelope or disbursement date for the support requested under the Extended Credit Facility.
The strategy for clearing domestic arrears and measures to prevent new payment backlogs were reviewed. Discussions also covered budget execution in 2026, the draft 2027 budget and the strengthening of control over public commitments and cash management.
The electricity sector is on the agenda because of the risks it poses to public finances and the constraints it places on growth, according to the IMF. The institution also cites improving the business climate and economic diversification among the areas reviewed.
The Congolese Ministry of Finance had presented the mission, as early as 24 September, as the launch of negotiations on a new programme. Its report said the authorities had provided the data requested by the Fund teams, led by Pilar Garcia Martinez.
The Extended Credit Facility provides medium-term assistance to low-income countries facing persistent external financing needs. The programmes it supports include policy commitments and reform objectives, the terms of which are negotiated with the authorities.