IMF Staff Country Reports

Republic of Congo: Request for an Extension of the Extended Credit Facility Arrangement-Staff Report

January 28, 2025

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International Monetary Fund. African Dept. "Republic of Congo: Request for an Extension of the Extended Credit Facility Arrangement-Staff Report", IMF Staff Country Reports 2025, 024 (2025), accessed March 31, 2025, https://doi.org/10.5089/9798229000055.002

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Summary

The authorities have requested a three-month extension of the Extended Credit Facility (ECF) arrangement set to expire on January 20, 2025. The three-year arrangement was approved by the Executive Board on January 21, 2022, with access of SDR 324.0 million (200 percent of quota). The extension seeks to allow sufficient time to complete the sixth (and final) review. The additional time needed would allow: (i) the authorities to complete remaining reforms; (ii) staff and the authorities to reach understandings on appropriate policies to support the completion of the 6th ECF review for the Republic of Congo, prepare documents and circulate them for Board consideration; and (iii) the Executive Board to discuss the review of regional policies and policy assurances for CEMAC, which is critical for the success of Congo’s Fund-supported program.

Subject: Asset and liability management, Economic growth, Fiscal policy, Government debt management, Inclusive growth, Liquidity, Public financial management (PFM), Revenue mobilization

Keywords: ECF arrangement, ECF review, Filets Sociaux, Government debt management, IMF's transparency policy, Inclusive growth, Liquidity, Liquidity pressure, Reform progress, Revenue mobilization

Publication Details

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