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
IMF Staff Country Reports, July 28, 2021
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- Canonical URL
- 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
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Bibliographic details
- Published: July 28, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513588735.002
Context and Recent Fund Engagement
- The Democratic Republic of the Congo (DRC) is described as a fragile state vulnerable to recurrent shocks.
- Relations with the Fund have been active since early 2019, including:
- A Staff Monitored Program (SMP).
- A Rapid Credit Facility (RCF) disbursement in December 2019.
- A second RCF disbursement in April 2020 in response to the COVID-19 crisis.
- President Tshisekedi requested a three-year Extended Credit Facility (ECF) arrangement to support his medium-term reform program.
Economic Impact and Macroeconomic Status
- Economic activity decelerated sharply in 2020 because of the COVID-19 crisis.
- Reserves decreased to less than two weeks of imports.
Subject Areas and Keywords
- 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
International Monetary Fund. African Dept. "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", IMF Staff Country Reports 2021, 168 (2021).
Content in this bundle
- 1codea2021002