Mission of the International Monetary Fund (IMF) to Brazzaville

08 Mar, 2024

Friday March 8, 2024 in Brazzaville, the Congolese Minister of Economy and Finance, Mr. Jean-Baptiste ONDAYE, received a delegation of experts from the International Monetary Fund (IMF), led by Mr. Pierre-Adrien WANDJA FONDJA. The purpose of this tête-à-tête, for this delegation, was to report, halfway through, the work it has carried out for two weeks with Congolese experts, on ways of optimizing non-profit revenues. oil in the Republic of Congo. 

While waiting for the final end-of-mission report, which will be presented in the near future, the observation is that the level of non-oil revenues of Congo-Brazzaville, compared to that of the other countries of the Economic and Monetary Community of Central Africa (CEMAC), remains below expected performance. 

“Optimizing the level of tax revenue is one of the major challenges that the Congolese government is committed to meeting. The expected results have not yet reached the desired level. Efforts therefore remain to be made,” indicated Minister Jean-Baptiste ONDAYE.

 “During the meetings in Marrakech, we requested a technical mission from the Public Finance Department of the IMF, in order to assess the operational efficiency of the General Directorate of Taxes and Lands; identify priority reforms to improve non-oil domestic tax revenues; and to propose a set of measures to achieve our objective,” explained the Congolese Monetary Authority. 

Therefore, IMF experts have proposed three areas in which action must be taken to raise the level of said revenues in the Republic of Congo, namely: organizational measures; measures related to the information system and measures concerning risk management.

 “While waiting for the Final Report, we will see, in compliance with current legislation in this area and taking into account the reforms underway in the ministry, how we will integrate your conclusions,” concluded the host of the IMF Mission.

The Communication Unit of the Ministry of Economy and Finance

Phot Credit : B2B Communication