Democratic Republic of the Congo: Review of the 2006 Staff-Monitored Program and a New Staff-Monitored Program for 2007: Staff Report; Staff Statement; Statement by the Executive Director for the Democratic Republic of the Congo

International Monetary Fund

No 2007/328, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews the 2006 Staff-Monitored Program (SMP) and a New Staff-Monitored Program for 2007 for the Democratic Republic of the Congo. Most quantitative and structural benchmarks under the SMP for April–December 2006 were not met; nevertheless, the SMP helped prevent major financial instability during the protracted electoral period. Cognizant of the need to reestablish macroeconomic stability, the government agreed on a policy framework for 2007 to be monitored by the IMF staff. Satisfactory performance under the SMP would open the way for discussions on a new arrangement under the Poverty Reduction and Growth Facility.

Keywords: ISCR; CR; government; Congo; Avoiding central bank financing; broad money; Congolese authorities; financing of the budget; draft budget; seating regime; government financial situation; Debt relief; Government finance statistics; Arrears; Fiscal stance; Southern Africa; Central Africa; Global; Africa (search for similar items in EconPapers)
Pages: 70
Date: 2007-09-25
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