For more examples of our impact, see our 2020 annual report
Republic of Congo, Sub-Saharan Africa’s third largest oil producer, faces bankruptcy, receiving multiple multi-million dollar bailouts from the IMF after its leaders have siphoned off its wealth.
Claffra/iStockPhoto
Our report, ‘Rigged - Where has Republic of Congo’s oil money gone’, analysed previously hidden accounts and oil contracts related to the country’s national oil company, SNPC. We revealed apparent abusive commercial practices by foreign oil companies and millions of dollars in missing funds.
In particular, we found that SNPC is carrying billions of dollars in previously undisclosed oil-backed liabilities. Further to our report, the IMF committed to consider this type of debt in their future analyses.
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