International

Downgrade rate of Congo Brazzaville: never comes alone, the woes of the Congolese dictator worsen

Standard & Poors-siège.jp g

For several months there has been diplomatic deterioration, political and economic of Brazzaville dictatorship embodied by the despot at bay Denis Sassou Nguesso.

Following the rejection of its candidate at the last summit of the “Francophonie” in Dakar in 2014, the last snub on his mediation in the Central African conflict, questioned his authority by many executives of his political party and his majority; rejection of its legitimacy by a majority of the population during the CAN 2015, the downgrade rate of its State by Standard & Poor’s yet another misfortune that adds to the long list expressing the downfall into hall of the Congolese army general.

Having always denounced the methods by which these credit ratings agencies have attributed arbitrary annotation to some countries, based on subjective analysis, the political core of MCCD welcomes this episode that shows how its partners and financial experts are objective and professional in their analyses.

Lowering from B + to B the credit ratings of Congo, with the only reason the fall in oil prices, the Standard & Poor’s demonstrates the subjective in assigning ratings to certain countries, which do not reflect economic realities respectively. These reasons are even more imaginary as by forecasting the Congolese growth at 3% in 2015 in contrast to 6.5% in the previous forecast, while no rate has mentioned on the real impact of the reduction in the Congolese oil prices, Standard & Poors reinforces the sense of MCCD political core. “The downfall into hall of the Congolese dictator due to its isolation leads to the degradation of his image and that of his State.”

Every economist and any financial expert know that a financial analysis of a country or a company is based on objective and subjective data. The fluctuation of oil prices on the market is only a subjective data, cannot in itself constitute the sole basis of annotation. Evidence to the valets and griots of the Congolese dictator who celebrated with great pomp the arbitrary allocation of 14th October 2013 by the rating agency “Moody’s” the low Ba3 rating, to the dictatorial rule of Sassou, these notes do not mean nothing, as was also mentioned by the voice of the free people in its publication of 6th February 2014 “Economics and Finance: ignorance and inexperience of the power of Brazzaville, object of jeers”

In the publication of 25th June 2014 “Indebtedness of Congo: economic and financial incompetence or irresponsibility of rulers? ” Voice of the free people noted on the one hand the difficulties of the dictatorial State to raise funds on the international market and denounced the other madness that was shown by this rogue and irresponsible State wanting to raise rates at very high, 1.5 billion dollars (997.5 billion FCFA) from the sale of securities linked mandatory. Debts that will be on the shoulder of many generations of our people.

The end of dictatorship is more evident than ever, the political core of the MCCD reassures the Congolese people that a responsible State post-Sassou will be built, considering all its human assets.

Standard & Poor’s and all the other rating agencies may objectively rate that responsible State, respectable and respected. No more imaginary rates or complacent.

MCCD: The Voice of Free People

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