Democratic Republic of the Congo: First Review under the Extended Credit Facility Arrangement, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for t

Author: International Monetary Fund. African Dept.

First Review under the Extended Credit Facility Arrangement, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of the Congo

Volume/Issue: Volume 2022 Issue 003

Publication date: January 2022

ISBN: 9781616355807

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Topics covered in this book

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Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , International - Economics , ECF arrangement , policy transmission mechanism , Congolese authorities , Policy discussion , ECF approval , ECF disbursement , IMF staff estimate , IMF's transparency policy , Credit , Fiscal stance , Global , Central Africa

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Summary

After a third wave over the summer, COVID-19 cases are declining but vaccination has stalled. Economic activity has improved on the back of strengthened external demand, allowing for a stronger-than-envisaged buildup in international reserves. Inflation and the exchange rate have stabilized. Near-term challenges arise from uncertainty related to the pandemic and the gradual global economic recovery supporting high commodity prices.