Democratic Republic of the Congo: Second Review Under the Three-Year Arrangement Under the Extended Credit Facility and Financing Assurances Review—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Democratic Republic of the Congo
February 22, 2011
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The IMF’s Executive Board completed the first review under the Extended Credit Facility (ECF) arrangement in June 2010 and decided that the Democratic Republic of Congo (DRC) had reached the completion point under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. In 2010, an improvement in global economic conditions supported strong macroeconomic performance; however, weaknesses in the financial sector were also exposed. The authorities recognized the importance of strengthening the independence and effectiveness of the central bank to sustain low and stable inflation.
Subject: Asset and liability management, Banking, Debt relief, Expenditure, External debt, Fiscal policy, Fiscal stance, Public financial management (PFM)
Keywords: authority, Congo, Congolese authorities, CR, Debt relief, disbursement of SDR, DRC's wealth, exchange rate depreciation, Fiscal stance, Global, HIPC debt relief, ISCR
Pages:
56
Volume:
2011
DOI:
Issue:
054
Series:
Country Report No. 2011/054
Stock No:
1CODEA2011001
ISBN:
9781455217700
ISSN:
1934-7685
