Congo Plans Reforms to Boost Income Amid Cash Shortage
- Revenue to GDP in Congo is below sub-Saharan African average
- Congo government this month concluded a regional debt exchange
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The Republic of Congo will begin implementing reforms next year aimed at boosting revenue collection to help end a cash shortage that resulted in the government restructuring its domestic debt, Finance Minister Jean-Baptiste Ondaye said.
The authorities will implement policies to strengthen governance in public enterprises and boost the collection of dividends from those entities, increase transparency in the management of tax receipts, and modernize administrative processes, Ondaye said in an interview. The reforms are being executed with assistance from the International Monetary Fund and other foreign donors, he said.