DRC economy passes IMF test

The International Monetary Fund (IMF) board on Wednesday approved the sixth and final review of its aid program, aimed at Democratic Republic of the Congo (DRC) Valued at $1.5 billion, it will be launched in July 2021. The agreement of The Council allowed the immediate disbursement of $224.7 million, representing the final tranche of the aid package.

The Washington-based agency highlighted the “difficult macroeconomic environment” in the Democratic Republic of Congo, particularly due to the humanitarian crisis in the east of the country. according to But the IMF also noted that “the authorities have maintained prudent macroeconomic policies” while succeeding in improving “domestic revenue mobilization, which remains sensitive to international commodity price fluctuations.” First”. The Democratic Republic of Congo is particularly rich in tantalum, tin, tungsten and gold reservesused in the production of smartphones and other electronic devices.

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8.4% growth in 2023

However, the IMF noted that implementation of the reforms had been “slower than expected” and called for of “Further efforts will be made to rationally distribute revenues and strengthen compliance with the spending chain”. He also verified Article 4 on the Democratic Republic of the Congo and the latest macroeconomic data related to it. The agency specifically mentioned economic growth of Although inflation remains high before easing slightly in the first half of 2024, it will still be recorded at 8.4% in 2023. “The economic outlook remains positive, but there are significant risks,” including “worsening armed conflict.” east” The IMF warned of “new inflationary pressures” caused by the country’s economic conditions and volatile oil and food prices.

The mineral-rich eastern region of the Democratic Republic of Congo has been plagued by violence since 1997. this Tensions further increased with the resurgence of the Rwandan-backed M23 insurgency in late 2021. The rebels seized large swathes of territory in North Kivu province. M23 captured in two years wait Half a large territoryIt even almost completely surrounded Goma, the capital of North Kivu province, where hundreds of thousands of displaced people gathered.

At the end of May, the Armed Forces of the Democratic Republic of the Congo also announced that they had Frustrated A ‘Coup attempt’ The attack on the economy minister’s residence, not far from the Congolese president’s office, involved “foreigners and Congolese” Felix Tshisekedi.

(AFP report)