Jump to navigation

Vol 44 No 24

Published 5th December 2003


Congo-Brazzaville

Cleaned out

As questions are raised about oil production, cash and crude both need a clean up

Congo-Brazzaville is broke, chronically indebted and at odds with the International Monetary Fund, whose technicians say that 57 billion CFA francs (US$102.3 million) of this year's oil earnings have evaporated (AC Vol 43 No 23). None of this fazes warlord-President Denis Sassou-Nguesso, still at work on schemes to enrich his family and that of his son-in-law, Gabon's President Omar Bongo. A $1.22 mn. grant by the African Development Bank on 2 December should help a little: $500,000 are to fight an epidemic of Ebola fever and $720,000 for 'economic management capacity building'. Having run Gabon for over three decades and married Sassou-Nguesso's daughter, Bongo is also taking an increasingly big stake in the Brazzaville economy. Sassou and his family now enjoy a new agreement negotiated with TotalFinaElf after years of stalemate over compensation for a botched privatisation.

End of preview - This article contains approximately 908 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.


If you have a print subscription already, click here for a password that gives you full access to the website.

If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.