Democratic Republic of the Congo: Third Review under the Extended Credit Facility Arrangement, the Request for Modification of Performance Criteria and the Financing Assurance Review-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of the Congo

International Monetary Fund

No 2022/390, IMF Staff Country Reports from International Monetary Fund

Abstract: Macroeconomic gains under the program so far are partly overshadowed by recurrent shocks. Due to the war in Ukraine and global economic developments, the Democratic Republic of the Congo is experiencing a terms-of-trade shock associated with rising energy and food prices (pushing inflation above 12 percent) and falling prices for mining products. Compounding these headwinds, the escalation of the armed conflict in the east of the country is having major negative economic, security and humanitarian effects, the magnitude of which—if the situation persists or worsens further—could jeopardize recent progress.

Keywords: Congolese authorities; IMF arrangement; IMF's transparency policy; terms-of-trade shock; Policy discussion; aggregate disbursement; Credit; Budget planning and preparation; Fiscal stance; Global (search for similar items in EconPapers)
Pages: 90
Date: 2022-12-23
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