The Minister

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Communication from the Minister of Finance and Budget at the Council of Ministers Meeting

The Council of Ministers met on Wednesday 3 July 2019 in Brazzaville, under the authority of the President of the Republic, Denis Sassou-N'Guesso. Among the nine (9) items on the agenda were the two-part communication by the Minister of Finance and Budget, Calixte Nganongo. The first part dealt with the implementation of the State budget, 2019 financial year, as of 31 March. The second component concerns the protection of the Medium-Term Budget Framework (CBMT) 2020-2022.

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Visit to the Data-Center of the Ministry of Finance and Budget

Housed in the building of the Ministry of Finance and Budget, the Data-center which has been visited Friday 28 June 2019 in Brazzaville, is a Data Storage Centre intended to host, among other things, data on the electronic processing of files and the payment of bursaries and educational aids for students applying. This visit comes 11 days after the official launch of the E-SCHOLARSHIPS electronic platform. 

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53th FAGACE Board of Directors Ordinary Session in Cotonou

The 53thordinary session of the Board of Directors of the African Guarantee and Economic Cooperation Fund (FAGACE), which took place on Thursday 20 June 2019, was predsided over by the outgoing president Hilaire Mavoungou, budget adviser at the Congolese Ministry of Finance. This session was held as a prelude to the 11thordinary session of the Board of Governors of the Fund, which took place on Friday 21 June 2019. The recommendations of this Board include the approval of the financial statements of the 2018 financial year showing a net profit of 111 million 233 thousand 239 FCFA. 

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The African Guarantee and Economic Cooperation Fund (FAGACE) is seeking the support of the Central African President in the reform process

The Congolese Minister of Finance and Budget, Calixte Nganongo, in his capacity as President-in-office of the African Guarantee and Economic Cooperation Fund (FAGACE), was received in audience by the Head of State of the Central African Republic, Faustin-Archange Touadéra, on 9 June 2019 in Bangui (Central African Republic).

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Summary of the complementary agreement on the Congo's debt to China restructuring

On April 2019, the Republic of Congo and the Import-Export Bank of China signed in Beijing (China), a Complementary Agreement Congo's Debt to China Restructuring. This Agreement is part of discussions between Congo and the International Monetary Fund (IMF) with a view to concluding a Programme supported by an Extended Credit Facility. This Programme is structured around several axes, including Public Debt Restructuring, to make it sustainable. 

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Both Houses of the Parliament have ratified a Complementary Agreement on the Restructuring of Congo's debt to China by 1, 479.83 billion FCFA.

Unanimously passed, Friday 17 May 2019 by the National Assembly, and Monday 20 Mai 2019 by the Senate, the two Houses of the Congolese Parliament have ratified, after review, the Draft Law of the Complementary Agreement on the Restructuring of the Congo's Debt to China, signed on 29 April 2019 in Beijing, between the Republic of Congo and the Import-Export Bank of China. The discussions were conducted by the Speakers of both Houses, namely: Isidore Mvoumba and Pierre Ngolo.

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Signing of two Financing Agreements between the Government of Congo and the French Development Agency (AFD)

Granted by the European Union (EU) through AFD, the total amount of 29,3 million euros (or 19 billion FCFA), is part of the programme to extend and modernise the infrastructure of the Pointe-Noire Port Authority (PAPN) and support for fischeries resources management for a period of 4 years. They complement AFD's financing of the PAPN to the tune of 70 million euros.

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Congo-IMF Agreement

At the end of a working week with Congo, from Thursday 2 to Wednesday 8 May 2019 in Brazzaville, the Head of delegation of the International Monetary Fund (IMF), Alex Segura-Ubiergo, provided an update of his Mission to the Minister of Finance and Budget, Calixte Nganongo. “Congo is on track to restore the sustainability of its public debt”, he said.

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National Monetary and Financial Committee

Under the chairmanship of Calixte Nganongo, Minister of Finance and Budget, assisted by his colleague, Ingrid Olga Ghislaine Ebouka, Minister of Planning, Statistics and  Regional Integration, in the presence of Abbas Mahamat Tolli, Governor of the Bank of Central African States (BEAC) and Michel Dzombala, National Director of BEAC, the National Monetary and Financial Committee held its first regular session, Monday 18 March 2019 in Brazzaville. 

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