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
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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
Pages:
118
Volume:
2021
DOI:
Issue:
168
Series:
Country Report No. 2021/168
Stock No:
1CODEA2021002
ISBN:
9781513588735
ISSN:
1934-7685
