IMF demanded that Congo ensure the long-term sustainability of its debt as a precondition for a three-year extended credit facility programs.
The International Monetary Fund on Friday reached an agreement with Argentina that will allow release of the next $5.4 billion disbursement under the loan program intended to help stabilize the South American nation’s economy.
Zimbabwe will not borrow externally and will cut reliance on the central bank to finance deficits during an IMF staff-monitored programme in a bid to set a track record of fiscal discipline that could earn it future funding, the IMF said.
Advisers to Congo Republic’s government have warned it that there is a “major risk” the International Monetary Fund (IMF) will reject its bid for a long-sought bailout, according to a letter obtained by Reuters.
China’s investment strategy of throwing money at developing countries appears to have hit a snag in the Republic of Congo as the central African nation is seeking an IMF bailout.