April 20, 2018 / 8:26 PM / a year ago

IMF will propose arrangement with Congo once debt sustainable

DAKAR, April 20 (Reuters) - The IMF will propose a financial arrangement with Congo Republic once the country has completed work to restore its debt sustainability, the Fund said on Friday, apparently contradicting Congo’s earlier claim that the deal was done.

“The authorities and the IMF mission have reached broad understandings on a program that could be supported by the IMF under a financial arrangement,” an IMF spokesman said.

“The Republic of Congo ... (is) working to restore debt sustainability and ensure full program financing. Once this work is completed, IMF Management will be prepared to propose the arrangement,” he added. (Reporting by Tim Cocks Editing by Gareth Jones)

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