IMF, DR Congo reach staff-level agreement

The International Monetary Fund (IMF) and the Democratic Republic of Congo (DRC) have reached a staff-level agreement amid the conclusion of the sixth and final review of the country’s Extended Credit Facility (ECF), the IMF said on Wednesday.

According to the IMF report, the DRC initially secured a three-year ECF arrangement for SDR 1,066 million (approximately US$1.52 billion), representing 100 per cent of its quota, which was greenlit by the Executive Board on July 15, 2021.

The conclusion of the sixth review underscores the DRC’s commitment to implementing vital economic and financial reforms, as outlined under the ECF arrangement.

These reforms aim to bolster macroeconomic stability, foster sustainable growth, and enhance governance within the country, the report included.