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Vol 58 No 19

Published 22nd September 2017


False start to IMF talks

The government's attempt to mislead the Fund over the scale of its debts does not bode well for their negotiations

Few countries can ever have warranted as terse a press release as that issued by the International Monetary Fund on the meeting of its chief, Christine Lagarde, with President Denis Sassou-Nguesso on 19 September in New York at the United Nations General Assembly. It was 'an opportunity to discuss the macroeconomic challenges' facing Congo-Brazzaville, the Fund said. The statement's brevity belies a long and acrimonious relationship in which the IMF has fruitlessly attempted to prevent the President treating the treasury as his family bank account.

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