The Republic of Congo will benefit from $448.6 million granted by the International Monetary Fund IMF to fund its economic reforms. This was reported this week by the institution.
Monies will be granted under the 3-year Extended Credit Facility (ECF), signed in 2016, which aims to help Congo restore macroeconomic stability, including debt sustainability, and lay the foundations for higher and more inclusive growth.
“Authorities have implemented an ambitious program of reforms to improve governance. Further reforms will be needed to strengthen the rule of law and the mechanism to combat money laundering and terrorist financing and to establish the new High Authority against Corruption,” said Mitsuhiro Furusawa (photo), IMF’s Deputy Managing Director.
Let’s note that $44.9 million is expected as the first instalment of a new Extended Credit Facility signed with Congo.
Moutiou Adjibi Nourou
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Project targets up to 1 million tons of output using solar and wind Initial investment estimated at $5 billion, with expansion potential Plan...
Ghana rolls out Publican AI at Tema Port, with early revenue rising from GH₵2.4bn to GH₵3.6bn after deployment System flags undervaluation and fraud...
Rice is deeply rooted in diets but demand now far outpaces local supply Production has increased across the region, yet value chains remain...
Government launches plans to improve data use and public services Strategy aims to support responsible use of artificial intelligence Move...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....