Congo News
IMF flags Congo debt risk amid fresh borrowing
Congo raised $74 million in short-term Treasury bills amid fiscal and liquidity challenges The IMF has flagged Congo’s mounting debt rollover risk as potential threats to financial stability BRAZZAVILLE – The Republic of Congo raised FCFA 45 billion ($74 million) on July 22 through the sale of short-term Treasury bills, as the country intensifies its reliance on the regional
IMF warns of looming reserve crisis in Central Africa
CEMAC reserve cover could fall to 3.1 months by 2030 Currency pressure and debt servicing add strain to fiscal outlook The International Monetary Fund has warned of a deteriorating financial outlook in the Central African Economic and Monetary Community (CEMAC), cautioning that without bolder fiscal consolidation and urgent policy action, the region could face dangerously low foreign reserves and intensifying
CEMAC cuts 2025 growth forecast to 2.4% as oil output falls
Oil production expected to shrink 2.7% across region Foreign reserves and budget balances under mounting strain YAOUNDÉ, CAMEROON – The Central African Economic and Monetary Community (CEMAC) has slashed its 2025 growth forecast to 2.4%, down from 2.9% projected in March, citing a sharper-than-expected decline in oil production and a worsening global outlook.
Afreximbank warns of trade risks and openings as global fault lines shift
Mounting rivalries present fresh opportunities but Africa’s share of global trade still shrinking PAPSS drives surge in intra-African commerce, but finance gap remains a major drag Cairo, Egypt – Mounting geopolitical rivalries and shifting trade alliances pose both threats and opportunities for Africa’s economies, according to Afreximbank’s 2025 Africa Trade Report, which calls for renewed focus on resilience and strategic
Afreximbank prepares for leadership transition as ratings scrutiny mounts
AGM in Abuja marks end of Oramah’s decade-long presidency Fitch downgrade raises questions on governance and risk appetite Abuja, Nigeria – Afreximbank is entering a pivotal chapter as it convenes its annual general meeting in Abuja from June 25 to 28—the final one under President Benedict Oramah, who steps down after ten years at the helm of the continental trade
BEAC governor urges urgent investment in local fuel refining
Over 2 trillion CFA lost annually to fuel imports across CEMAC bloc Domestic production of bitumen, lubricants and fertilisers seen as key to resilience Yaoundé, Cameroon – The governor of the Bank of Central African States has called for immediate investment in local fuel refining, warning that CEMAC countries are haemorrhaging more than 2 trillion francs CFA ($3.3 billion) annually
AU proposes $814 million budget for 2026 as push for self-funding intensifies
Spending plan rises 34% amid new mandates and shrinking external support Member state contributions capped at $250 million; delays risk programme delivery Lagos, Nigeria – The African Union (AU) has unveiled a proposed budget of $814 million for the 2026 fiscal year, a 34% increase over the previous year’s allocation. The plan, presented on Monday during a virtual joint session
Cocoa and coffee surge boosts CEMAC’s commodity index
Cocoa and coffee prices jumped 15.3% and 20.3% respectively in Q1 2025 Regional commodity index rose 8.2%, driven by agricultural export gains CEMAC’s commodity-exporting economies enjoyed a short-term reprieve in the first quarter of 2025, as soaring cocoa and coffee prices powered an 8.2% quarterly gain in the Composite Commodity Price Index (ICCPB), according to a new report from the
AU Unveils Bold Fiscal Plan to Cut Debt Dependence
Agenda 2063 proposals include diaspora bonds, e-commerce levy, and a sovereign wealth fund Success hinges on political will and macroeconomic reform, economists warn Lagos, Nigeria – The African Union Commission on Monday announced a suite of fiscal initiatives aimed at reducing Africa’s dependence on external borrowing and building a more resilient financial architecture. The measures—framed as strategic priorities under the