Democratic Republic of the Congo: Fourth Review Under the Extended Credit Facility, Request for Modification of Quantitative Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of the Congo

July 5, 2023

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Format: Chicago

Democratic Republic of the Congo: Fourth Review Under the Extended Credit Facility, Request for Modification of Quantitative Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of the Congo, (USA: International Monetary Fund, 2023) accessed December 25, 2024

Also available in: français

Summary

Growth has remained strong and resilient, fueled by expanding mining activity. However, the escalation of the armed conflict in Eastern DRC is having major negative humanitarian effects and weighed on public finances; upcoming elections, scheduled at the end of 2023, are also adding to uncertainty. Since the last review, the government’s revenue shortfalls and rapid spending contributed to a deterioration of the external balance, excess domestic currency liquidity, exchange rate depreciation, and persistent inflation.

Subject: Expenditure, External debt, Fiscal policy, International organization, Monetary policy, Public debt, Revenue administration

Keywords: Congolese authorities, Development spending, ECF arrangement, Expenditure measure, Global, Inflation pressure, Policy discussion, Revenue performance

Publication Details

Pages:

115
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/244
Stock No:

1CODEA2023002
ISBN:

9798400244438
ISSN:

1934-7685

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