Congo-Brazzaville must be compelled to stop signing oil-backed loans and account for the billions of dollars it has already borrowed, according to Global Witness campaigner Natasha White, reacting to the bailout accord signed on 11 July with the International Monetary Fund (IMF), writes Barry Morgan.
The IMF said it will begin disbursing another $448.6 million as part of a three-year arrangement under the existing Extended Credit Facility with Congo-Brazzaville to help keep finances afloat, “improve governance and protect vulnerable groups”.
