The International Monetary Fund (IMF) wants to provide an emergency fund to allow the Congolese government to deal with the health crisis linked to Covid-19 and to social demands. The amount of aid will be set later in early 2021, IMF Resident Representative Alun Thomas said on November 10.
According to Alun Thomas, emergency aid is also intended to cope with the floods affecting the northern part of the Congo. “Emergency disbursements do not focus on structural benchmarks and quantitative indicators, but they do take into account stable macroeconomic frameworks over the medium term. I have a lot of hope that the discussions will lead to positive results, ”he said, after a meeting in Brazzaville with the Minister of Finance and Budget, Calixte Nganongo, in the presence of his colleague. in charge of the Budget, Ludovic Ngatsé.
Asked about the continuation of the macroeconomic reform program concluded with the Congo in July 2019, the representative of the Bretton Woods institution said that discussions on this subject will resume after emergency aid. “The health crisis has complicated the implementation of the macroeconomic reform program. At the moment, the priorities are geared towards emergency disbursements, while the program is taking much longer, ”said Alun Thomas.
On the side of the Congolese authorities, the feeling is divided between hope and impatience. “We have been waiting for this help for over six months. So far, discussions are progressing very well, with the hope of reaching a conclusion soon. The amount is the responsibility of the IMF Board of Directors. If we have a lot of chances, it’s before the end of the year, if not early next year, ”said Ludovic Ngatsé.
Note that around a hundred villages in the Likouala department, in the north of the country, are affected by flooding caused by heavy rains. At least four thousand people are homeless. In the face of this additional crisis, the Congolese government has appealed for assistance to development partners.
