2023-05-04 15:23:34
By Simeon Isako
The IMF (International Monetary Fund) delegation, headed by Mrs. Mercedes Vera Martin, Head of Mission for the Democratic Republic of Congo, was received on Tuesday, May 3, 2023, by Prime Minister Jean-Michel Sama Lukonde Kyenge, in the presence of the Minister of State in charge of the Budget, Aimé Boji Sangara, and the Minister of Finance, Nicolas Kazadi.
This delegation, which completed its mission as part of the 4th review of the Extended Credit Facility (ECF) economic program with the DRC, informed the Head of Government of the various conclusions of its two-week mission to the DRC.
According to the Head of the IMF Mission for the DRC, an agreement has been concluded at IMF staff level for an amount of 200 million dollars which will be confirmed at the end of the IMF Board of Directors scheduled for the end of next June. She praised the resilience shown by the DRC in terms of growth, despite the difficult context.
« We stayed here for two weeks for discussions on the FEC program. We communicated to His Excellency the Prime Minister on an agreement at IMF staff level which allows us to move forward in preparation for the Board of Directors at the end of June. We discussed the macroeconomic situation with resilient growth in the DRC and support for the development of the mining sector. At the same time, we discussed the acceleration of inflation in a difficult context with the conflicts in the East and the organization of elections. In this context, we talked regarding monetary and fiscal policy to reduce inflationary pressures, accelerate the implementation of institutional reforms. We also talked regarding the authorities’ efforts to make progress on economic diversification. The proposal, in relation to the amount, is 200 million dollars which will be made available to the Democratic Republic of Congo, following decision of the Board of Directors scheduled for the end of June at the IMF “, declared to the press Mrs. Mercedes Vera Martin.
It should be noted that this agreement concluded at the end of the 4th Review of the economic program will be confirmed by the decision of the IMF’s Board of Directors expected on June 28, 2023. An important decision which will give rise to a disbursement of more than 200 million US dollars in balance of payment support.
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