REPUBLIC OF CONGO: IMF BAILOUT OFFERS ONLY SHORT-TERM RELIEF AS POLITICAL CHALLENGES REMAIN
Tue, 14 May 2019
A three-year lending programme with the IMF, if approved by the Fund’s board, will offer immediate relief across Congo’s balance of payments and improve political stability in the short-term. However, IMF-mandated transparency conditions and disclosure of pre-export financing facilities will meet political resistance, while austerity and restructuring policies are likely to trigger a public backlash in the form of strikes, protests, and perhaps renewed political instability.
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