{
  "title": "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",
  "publication": "IMF Staff Country Reports, July 28, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2021/07/28/democratic-republic-of-the-congo-request-for-a-three-year-arrangement-under-the-extended-462901",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2021/07/28/democratic-republic-of-the-congo-request-for-a-three-year-arrangement-under-the-extended-462901",
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  "summary": "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 disburseme",
  "sections": [
    {
      "heading": "Context and Recent Fund Engagement",
      "content": "- The Democratic Republic of the Congo (DRC) is described as a fragile state vulnerable to recurrent shocks.\n- Relations with the Fund have been active since early 2019, including:\n  - A Staff Monitored Program (SMP).\n  - A Rapid Credit Facility (RCF) disbursement in December 2019.\n  - A second RCF disbursement in April 2020 in response to the COVID-19 crisis.\n- President Tshisekedi requested a three-year Extended Credit Facility (ECF) arrangement to support his medium-term reform program."
    },
    {
      "heading": "Economic Impact and Macroeconomic Status",
      "content": "- Economic activity decelerated sharply in 2020 because of the COVID-19 crisis.\n- Reserves decreased to less than two weeks of imports."
    },
    {
      "heading": "Subject Areas and Keywords",
      "content": "- Subject: Arrears, Economic sectors, Expenditure, External debt, International organization, Mining sector, Monetary policy, Public debt, Revenue administration\n- Keywords: Africa, Arrears, BCC Law, COVID support measure, DRC authorities, DRC government, ECF arrangement, Global, government transfer, Mining sector, RCF commitments summary, staff appraisal\n\nInternational 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).\n\n---\n\n Content in this bundle\n\n- 1codea2021002\n  - 1codea2021002 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1codea2021002 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 28, 2021",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513588735.002",
    "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:",
    "President Tshisekedi requested a three-year Extended Credit Facility (ECF) arrangement to support his medium-term reform program.",
    "Economic activity decelerated sharply in 2020 because of the COVID-19 crisis.",
    "Reserves decreased to less than two weeks of imports.",
    "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",
    "**1codea2021002**"
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