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

International Monetary Fund

No 2021/168, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ECF arrangement; DRC government; DRC authorities; government transfer; COVID support measure; Arrears; Global; Africa; BCC Law; RCF commitments summary; staff appraisal; Mining sector (search for similar items in EconPapers)
Pages: 118
Date: 2021-07-28
New Economics Papers: this item is included in nep-isf and nep-mac
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