{
  "title": "Democratic Republic of the Congo: Technical Assistance Report-Financial Sector Stability Review",
  "publication": "IMF Staff Country Reports, September 1, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/09/01/democratic-republic-of-the-congo-technical-assistance-report-financial-sector-stability-522775",
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  "summary": "In response to a request from the Central Bank of the Congo (BCC), the Monetary and Capital Markets Department of the International Monetary Fund (IMF) conducted a Financial Sector Stability Review (FSSR) mission virtually, during January 5–28, 2022.",
  "sections": [
    {
      "heading": "Mission scope and objectives",
      "content": "- Conducted by the Monetary and Capital Markets Department of the International Monetary Fund (IMF) in response to a request from the Central Bank of the Congo (BCC).\n- Mission format: virtual.\n- Mission dates: January 5–28, 2022.\n- Core tasks:\n  - Performed a diagnostic of the financial system.\n  - Reviewed progress in implementing previous IMF technical assistance (TA) recommendations.\n  - Developed a draft Technical Assistance Roadmap to strengthen the BCC’s capacity in areas covered by the FSSR.\n  - For the first time, covered gender inclusion in financial supervision."
    },
    {
      "heading": "Key macrofinancial vulnerabilities identified",
      "content": "- The FSSR identified five macrofinancial vulnerabilities:\n  - (i) the quality of the banking system’s capital base;\n  - (ii) the difficulty in evaluating nonperforming loans following the COVID 19 financial support measures;\n  - (iii) risks related to financial dollarization;\n  - (iv) the impact on correspondent banking relationships of “de-risking”; and\n  - (v) intragroup exposures, as bank subsidiaries in the DRC place surplus funds with parent companies abroad."
    },
    {
      "heading": "Policy developments and near-term technical assistance implications",
      "content": "- The BCC’s adoption of COVID-19 exit measures in December 2021, including specific reporting requirements, is expected to:\n  - Provide momentum for additional TA in the near term.\n  - Help the BCC analyze banks’ asset quality going forward."
    },
    {
      "heading": "Notable thematic coverage",
      "content": "- Bank resolution framework\n- Bank supervision\n- Financial crises\n- Financial regulation and supervision\n- Financial sector policy and analysis\n- Financial sector stability\n- Monetary policy\n- Stress testing\n- Inclusion of gender considerations in financial supervision (first-time coverage in this FSSR)\n\nInternational Monetary Fund, “Democratic Republic of the Congo: Technical Assistance Report-Financial Sector Stability Review” (September 1, 2022). https://www.imf.org/en/publications/cr/issues/2022/09/01/democratic-republic-of-the-congo-technical-assistance-report-financial-sector-stability-522775\n\n---\n\n Content in this bundle\n\n- 1codea2022004\n  - 1codea2022004 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1codea2022004 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: September 1, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400218620.002",
    "Conducted by the Monetary and Capital Markets Department of the International Monetary Fund (IMF) in response to a request from the Central Bank of the Congo (BCC).",
    "Mission format: virtual.",
    "Mission dates: January 5–28, 2022.",
    "Core tasks:",
    "The FSSR identified five macrofinancial vulnerabilities:",
    "The BCC’s adoption of COVID-19 exit measures in December 2021, including specific reporting requirements, is expected to:",
    "Inclusion of gender considerations in financial supervision (first-time coverage in this FSSR)",
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