## 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_

## Source details

**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](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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## Bibliographic details
- Published: July 28, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513588735.002

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### 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).*

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_Source: 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_