As the fiscal year draws to a close, the Republic of Congo is once again under pressure to meet its debt obligations. In a move that has largely escaped public attention, the Ministry of Finance has quietly secured the rescheduling of nearly €600 million in repayments and is actively negotiating further deferrals with its international creditors.
This marks yet another chapter in Congo’s ongoing struggle with debt sustainability. The central African nation has faced recurring liquidity issues in recent years, grappling with the twin challenges of fluctuating oil revenues a cornerstone of its economy and the rising cost of debt servicing.
According to sources close to the Finance Ministry, the latest rescheduling agreements have been reached with a mix of bilateral and private creditors. These include several European institutions and international bondholders, though officials declined to specify the terms or the names of the creditors involved, citing the sensitivity of ongoing negotiations.
“Talks are progressing constructively,” a senior government official told Agence Congo Presse on condition of anonymity. “Our priority is to ensure macroeconomic stability while maintaining our commitments to essential public spending.”
Debt rescheduling, while providing short-term relief, raises questions about Congo’s long-term fiscal path. The country’s total public debt stands at around 90% of GDP, according to the latest estimates from the IMF, which has urged structural reforms to complement debt management efforts.
The IMF and World Bank have previously supported Congo’s debt restructuring under the G20’s Common Framework for Debt Treatments. However, analysts warn that the quiet nature of recent negotiations may point to more fragile underlying financial conditions than the government publicly acknowledges.
“These repeated reschedulings suggest that Congo’s fiscal position remains under significant strain,” said Carole Nsimba, an economist specializing in central African economies. “Without broader reforms in revenue collection, spending transparency, and diversification away from oil, the debt cycle may continue.”
The Ministry of Finance has not issued an official statement on the latest rescheduling, but insiders suggest that a public announcement could come before the end of the year, particularly if further agreements are finalized.
In the meantime, the country’s financial future remains uncertain balancing between urgent short-term relief and the need for long-term fiscal discipline.
