Democratic Republic of the Congo: Request for a Three-Year Arrangement Under the Extended Credit Facility; Review of Performance Under the Staff Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of Congo

July 28, 2021

Preview Citation

Format: Chicago

Democratic Republic of the Congo: Request for a Three-Year Arrangement Under the Extended Credit Facility; Review of Performance Under the Staff Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of Congo, (USA: International Monetary Fund, 2021) accessed September 18, 2024

Also available in: français

Summary

The Democratic Republic of the Congo (DRC) is a fragile state and vulnerable to recurrent shocks. Relations with the Fund have been quite active since early 2019, with a Staff Monitored Program (SMP) coupled with a Rapid Credit Facility (RCF) disbursement in December 2019 and a second RCF disbursement in April 2020 to respond to the COVID-19 crisis. Economic activity decelerated sharply in 2020 because of the crisis and reserves decreased to less than two weeks of imports. President Tshisekedi requested a three-year Extended Credit Facility (ECF) arrangement to support his medium-term reform program.

Subject: Arrears, Economic sectors, Expenditure, External debt, International organization, Mining sector, Monetary policy, Public debt, Revenue administration

Keywords: Africa, Arrears, BCC Law, COVID support measure, DRC authorities, DRC government, ECF arrangement, Global, Government transfer, Mining sector, RCF commitments summary, Staff appraisal

Publication Details

Pages:

118
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/168
Stock No:

1CODEA2021002
ISBN:

9781513588735
ISSN:

1934-7685

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