The Republic of Congo has officially requested talks with the International Monetary Fund to launch a new economic and financial support programme, as the country grapples with rising debt and pressure on public finances.
Authorities say the move is aimed at stabilising the economy, which is heavily strained by a debt burden estimated at more than 90 percent of Gross Domestic Product. The country’s revenue base remains largely dependent on oil exports, leaving it vulnerable to fluctuations in global crude prices.
The announcement follows discussions at a recent summit of the Central African Economic and Monetary Community, known as CEMAC, where regional leaders urged member states to strengthen fiscal discipline and align economic reforms with International Monetary Fund frameworks.
Officials also emphasised the importance of maintaining stability of the Central African CFA franc, the common currency used by six countries in the region, including Congo-Brazzaville.
Under the proposed arrangement, IMF officials are expected to travel to the capital, Brazzaville, in the coming weeks to begin formal negotiations on a possible support programme.
Economists say Congo-Brazzaville’s reliance on oil revenues has left its economy exposed to global market shocks, limiting government spending on infrastructure, health, and social services.
A new IMF-backed programme could potentially unlock financial assistance and policy support, but would likely require strict reforms, including improved debt management, public spending controls, and broader economic diversification away from oil dependence.
The government says it is seeking a long-term solution to restore economic stability, strengthen investor confidence, and support sustainable growth across the country.
