Rigobert Roger Andely working on sustainable refinancing of oil debt
After restructuring Congo’s previous debt against its crude oil production at the end of January, as announced exclusively by Africa Business+, and the resumption of IMF disbursements, the Congolese minister of finance, budget and public portfolio is considering how to reduce the Treasury’s exposure to oil prices over the longer term.
05/05/2022 at 18h17, by Africa Business+
Rescheduling of oil debts with traders Orion, Trafigura and Glencore, combined with the rise in oil price, has temporarily put the country out of over indebtedness. In addition, the Republic of Congo has just concluded the first review of its current 36-month Extended Fund Facility with the IMF. As a result, a disbursement of SDR 64.8 million is expected soon, subject to approval by the Fund’s Executive Board.
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