REPUBLIC OF CONGO: SEVERE RISK OUTLOOK AMID MAJOR MACROECONOMIC FAILINGS
Fri, 24 July 2020
The Republic of Congo’s country risk outlook, as rated by EXX Africa, has deteriorated significantly since the outbreak of COVID-19. With already unsustainable levels of debt – estimated to have potentially reached 115 percent of GDP in January – the economy has suffered further from volatility in the price of oil, a resource on which 60 percent of GDP depends. A major recession is now expected to ensue as the country heads to the polls in 2021.
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