{
  "title": "Democratic Republic of the Congo: Staff-Monitored Program and Request for Disbursement Under the Rapid Credit Facility; Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of the Congo",
  "publication": "IMF Staff Country Reports, December 23, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2019/12/23/democratic-republic-of-the-congo-staff-monitored-program-and-request-for-disbursement-under-48913",
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  "summary": "This paper discusses The Democratic Republic of the Congo’s Staff-Monitored Program and Request for Disbursement Under the Rapid Credit Facility. The economic environment remains challenging and vulnerable to shocks. Real gross domestic product growth is projected to decelerate to 4.",
  "sections": [
    {
      "heading": "Economic outlook and vulnerabilities",
      "content": "- Real gross domestic product growth is projected to decelerate to 4.5 percent in 2019 from 5.8 percent in 2018.\n- The economic environment is described as challenging and vulnerable to shocks.\n- The recent fall in commodity prices contributed to weaker economic performance."
    },
    {
      "heading": "Fiscal position and financing",
      "content": "- New spending initiatives and looser spending oversight during the political transition period have led to a weaker fiscal position.\n- The weaker fiscal position was mostly financed by the central bank.\n- Authorities intend to introduce strict spending caps."
    },
    {
      "heading": "Balance of payments and international reserves",
      "content": "- International reserves have fallen to critically low levels, creating urgent balance of payment needs.\n- The government is committed to measures and reforms that would reinforce international reserves."
    },
    {
      "heading": "Revenue mobilization and tax administration",
      "content": "- Authorities intend to boost domestic revenue by:\n  - restoring the functioning of the value-added tax;\n  - enforcing the personal income tax;\n  - improving mining revenue forecasting.\n- Keywords in the report include: revenue administration, mining revenue forecasting, and mining sector."
    },
    {
      "heading": "Monetary policy and institutional reforms",
      "content": "- The government intends to increase the effectiveness of monetary policy.\n- The paper highlights issues related to poor governance and a difficult business environment.\n- Authorities express commitment to reforms to strengthen macroeconomic stability and address pervasive poverty."
    },
    {
      "heading": "Inclusive growth and development priorities",
      "content": "- Plans to foster inclusive growth and private sector development include:\n  - infrastructure projects;\n  - free basic education.\n\n---\n\n Content in this bundle\n\n- 1codea2019003\n  - 1codea2019003 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1codea2019003 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: December 23, 2019",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513524320.002",
    "Real gross domestic product growth is projected to decelerate to 4.5 percent in 2019 from 5.8 percent in 2018.",
    "The economic environment is described as challenging and vulnerable to shocks.",
    "The recent fall in commodity prices contributed to weaker economic performance.",
    "New spending initiatives and looser spending oversight during the political transition period have led to a weaker fiscal position.",
    "The weaker fiscal position was mostly financed by the central bank.",
    "Authorities intend to introduce strict spending caps.",
    "The government is committed to measures and reforms that would reinforce international reserves.",
    "Authorities intend to boost domestic revenue by:",
    "Keywords in the report include: revenue administration, mining revenue forecasting, and mining sector.",
    "The government intends to increase the effectiveness of monetary policy.",
    "The paper highlights issues related to poor governance and a difficult business environment.",
    "Authorities express commitment to reforms to strengthen macroeconomic stability and address pervasive poverty.",
    "Plans to foster inclusive growth and private sector development include:",
    "**1codea2019003**"
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