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CONGO

Sassou Nguesso banks on IMF thaw to gild his re-election

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“Debt diplomacy”

AFRICA

Debt diplomacy

Because the fight to contain it has involved the use of public funds, the Covid-19 pandemic has led to an explosion of debt throughout Africa, forcing countries to seek a moratorium from the G20 and bring in consultants to help them negotiate with their sovereign, private sector and institutional creditors. In the West, the growth of African countries' debt has led to fierce competition between private and public sector creditors to obtain repayment of their debts. China is also involved but has shown little inclination so far to reschedule African countries' debts. [...]

President of Congo Denis Sassou Nguesso. © @SassouCG/Twitter

With three weeks to go until the presidential poll, the Congolese government is working hard to clinch a debt rescheduling agreement with Glencore and get the IMF to resume lending. [...] (398 words)

Published on 04/03/2021 at 05:00 GMT Reading time 2 minutes

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Politics

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CONGO
Denis Sassou Nguesso
Glencore
International Monetary Fund
Lazard
Olivier Colom
ORS
SONARA
Trafigura
Worldwide Energy

IMF's Congo summer

On 8 July, International Monetary Fund (IMF) executive director for Congo Aivo Handriatiana Andrianarivelo, will end a 6-day trip to Brazzaville, only days before the institution launches a remote mission for Congo from 14 to 21 July.

CONGO Politics 17/06/2021

New budget minister Andely picks task force to improve IMF relations

The newly appointed Congolese budget minister Roger-Rigobert Andely has named a select group to reopen communication channels with the IMF and negotiate the disbursement of the second tranche of a loan programme that has been blocked for the past year.

The Congolese Minister of Finance, Roger-Rigobert Andely.

CONGO Politics 04/06/2021

Roger-Rigobert Andely reprises his role as debt-slayer

Once again, the new finance minister, beloved by lenders and international partners, is putting on his fireman's uniform for Denis Sassou Nguesso, at a time when IMF talks are on the rocks. Whether he can pull off his magic a second time, however, remains to be seen.

The new Congolese Minister of Finance Roger-Rigobert Andely.

CONGO Politics 19/05/2021

A new government sponsored by the president's family

Prime Minister Anatole Collinet Makosso, who was appointed on 12 May, is close to both first lady Antoinette Sassou Nguesso and the president's youngest son, Denis Christel Sassou Nguesso.

Congo's new prime minister, Anatole Collinet Makosso.

CONGO Business 23/04/2021

Post-election battle to replace PM

Prime Minister Clément Mouamba's government resigned on 16 April, just after Denis Sassou Nguesso was sworn in for a fourth and final presidential term. Key members of the head of state's inner circle are now pushing candidates to replace Mouamba, even though the administration might not change until next year.

Congolese President Denis Sassou Nguesso at the polling station on 21 March 2021.

Spotlight

AFRICA Diplomacy 17/03/2021

Marathon debt cancellation talks under way ahead of summit season

The Paris summit on investing in Africa, which will largely focus on debt, and the World Bank and IMF spring meetings will take place in quick succession in the coming months. To prepare for these major gatherings, the IMF and G20 countries have started to tackle the thorny issue of debt reduction, a frequent source of disagreement with China.

CONGO Politics 12/03/2021

Candidate Sassou deploys his lobbyists and PR people in Washington and Paris

Hoping to be re-elected for a fourth term on 21 March, the Congolese leader Denis Sassou Nguesso recently retained the services of two PR firms in the French and American capitals to shore up his rather tattered international image.

AFRICA FRANCE UNITED KINGDOM Business 03/03/2021

Olivier Colom, one of Sarkozy's ex-diplomatic aides, branches into sovereign advisory in Africa

Olivier Colom, closely linked to Egyptian tycoon Naguib Sawiris, who placed him on the board of Endeavour Mining and then at Euronews, previously worked in the diplomatic unit of the Elysée Palace under Nicolas Sarkozy.

Olivier Colom last year set up a boutique consulting firm specialising in providing financial advice to governments.

DRC Politics 03/03/2021

Kinshasa spends nearly $1m restoring relations with IMF

A contract signed with US law firm Baker McKenzie, which was negotiated by the Congolese presidency before being signed by the finance minister, is intended to enable the DRC to resume negotiations with the International Monetary Fund.

CONGO Energy Politics 18/02/2021

Shadow of Glencore hangs over Sassou's re-election bid

The incumbent Congolese president Denis Sassou Nguesso is ardently hoping that he can round off his campaign for a fourth term in office with news that the IMF is going to resume its financial support for the country.

Spotlight

CONGO Politics 27/02/2019

Sassou Nguesso looks beyond the International Monetary Fund to 2021

Decisive for the economic future of the country, the negotiations with Washington may also provide the president with a platform for winning the next presidential election. Analysis.Pre-campaign - Denis Sassou Nguesso, who on 5 February celebrated the 40th anniversary of [.

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Denis Sassou Nguesso
Glencore
International Monetary Fund
Lazard
Olivier Colom
ORS
SONARA
Trafigura
Worldwide Energy

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Sassou Nguesso banks on IMF thaw to gild his re-election

Debt diplomacy

This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

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create a free account

Set up email notifications for these topics

IMF's Congo summer

New budget minister Andely picks task force to improve IMF relations

Roger-Rigobert Andely reprises his role as debt-slayer

A new government sponsored by the president's family

Post-election battle to replace PM

Marathon debt cancellation talks under way ahead of summit season

Candidate Sassou deploys his lobbyists and PR people in Washington and Paris

Olivier Colom, one of Sarkozy's ex-diplomatic aides, branches into sovereign advisory in Africa

Kinshasa spends nearly $1m restoring relations with IMF

Shadow of Glencore hangs over Sassou's re-election bid

Sassou Nguesso looks beyond the International Monetary Fund to 2021

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Sassou Nguesso banks on IMF thaw to gild his re-election

Debt diplomacy

This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

Create your free account

create a free account

Set up email notifications for these topics

IMF's Congo summer

New budget minister Andely picks task force to improve IMF relations

Roger-Rigobert Andely reprises his role as debt-slayer

A new government sponsored by the president's family

Post-election battle to replace PM

Marathon debt cancellation talks under way ahead of summit season

Candidate Sassou deploys his lobbyists and PR people in Washington and Paris

Olivier Colom, one of Sarkozy's ex-diplomatic aides, branches into sovereign advisory in Africa

Kinshasa spends nearly $1m restoring relations with IMF

Shadow of Glencore hangs over Sassou's re-election bid

Sassou Nguesso looks beyond the International Monetary Fund to 2021

Set up email notifications for these topics

First visit

Contacts

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Follow us

A website produced by

Indigo Publications also publishes: