The Congolese government has just faced debts from economic operators who have pre-financed the state’s works. Although the requirements were revised, they were only partially settled. Operators believe it will be difficult to revive the national economy with the small domestic commercial debt paid to them. They call for arbitration by the head of state for a final solution to their problem.
The Brazzaville Club, which brings together four banks, was able to raise more than 300 billion CFA francs to pay economic operators. But the payment transaction does not live up to expectations, according to Roger Obesse, who heads one of the economic operators’ collectives. He is far from satisfied. “We are dissatisfied because we were waiting for the 2014-2015 domestic debt, which was recognized by the government, to be paid in full. There it is partially paid, and we do not know how they will do with the rest, “he regrets.
Roger Obesse gives us the detailed figures for partially paid debts. “From 100 million to 500 million, we paid 30%. From 500 million and more we paid 50%. All the audited and validated debt of 179 companies amounted to 137 billion CFA francs. However, the Brazzaville club has raised more than 330 billion CFA francs, but we paid in part without justifying it, ”he describes.
According to this trade unionist, under the current circumstances, it would be difficult to revive the Congolese economy, which has been weighed down since 2014 by the fall in oil prices on which it essentially depends. “We cannot resume the national economy now. When you are partially paid, when you have the fiscal situation that you have to regulate, as well as the social situation and the suppliers that you have to pay, then when do you want us to take over the economy? Mr. Obesse.
Traders fear that unpaid debt will further increase the holdings of debt. Through the voice of Serge Bonguélé, they are now calling for the involvement of the Head of State in the final solution of their situation.
“We had requested arbitration from the head of state as the father of the nation so that he could instruct general programming, a matter of easing the private sector. The private sector is said to be the driving force behind growth because it generates tax and customs revenue and then helps pay pensions, civil servants’ salaries and student grants. So the big countries have developed thanks to the private sector, ”argues Mr. Bonguélé.
The Treasury Department is assured that the Brazzaville Club is a partial debt restructuring mechanism. Other clubs will be set up depending on the financial situation. “Congo is on a program with the IMF and debt approval is being monitored because of the program,” concludes the source we contacted.
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