IMF Staff Country Reports

Democratic Republic of the Congo : Request for the Rapid-Access Component of the Exogenous Shocks Facility and Report on the 2008 Staff Monitored Program

Author/Editor:

International Monetary Fund

Publication Date:

December 15, 2009

Electronic Access:

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Summary:

This paper discusses a request from Congo for the Rapid-Access Component of the Exogenous Shocks Facility. Performance on the 2008 staff-monitored program was mixed, complicated by the effects of the exogenous shock. Although weaknesses remain, the authorities strengthened public financial management, particularly with regard to urgent government expenditure. They also made progress in addressing IMF staff’s concerns about the debt sustainability implications of the Sino-Congolese mining and infrastructure cooperation agreement. The authorities are committed to implementing appropriate adjustment policies.

Series:

Country Report No. 09/317

Subject:

Access to Fund general resources Balance of payments need Commodity price fluctuations Congo, Democratic Republic of the Economic growth Economic indicators Exogenous Shocks Facility Fiscal policy Governance Monetary policy Political economy Reserves Staff-monitored programs Terms of trade

Notes:

Also available in French