The International Monetary Fund (IMF) has approved a 38-month Extended Credit Facility (ECF) arrangement for the Democratic Republic of the Congo, totaling approximately US$1,729 million. Additionally, a Resilience and Sustainability Facility (RSF) arrangement amounting to around US$1,038 million has been sanctioned.
Economic indicators show that in 2024, the Democratic Republic of the Congo experienced robust growth with real GDP projected at 6.0 percent. Inflation rates decreased from a peak of 23.8 percent in late 2023 to 12.8 percent by November 2024. The fiscal balance and current account deficit are expected to have improved, contributing to stronger international reserves.
The ECF-supported program aims to maintain macroeconomic stability while improving business conditions and governance. It focuses on increasing revenue mobilization and reforming public financial management to enhance efficiency and accountability.
The RSF program is designed to help the country transition towards a low-carbon economy and improve resilience against climate shocks.
Deputy Managing Director Mr. Okamura stated: "The economy of the Democratic Republic of the Congo (DRC) has remained resilient with robust economic growth, declining inflation and fiscal deficits despite the significant challenges it faces."
He further noted that "the authorities have made progress under the 2021 ECF," but emphasized that "macroeconomic policy, structural and climate-related challenges remain."
Under the new arrangements, plans include boosting growth through domestic revenue strengthening and fiscal discipline enhancement. Measures will be taken such as adhering strictly to expenditure procedures and establishing a Treasury Single Account.
Monetary policy remains tight under guidance from the Central Bank of the Congo to combat inflation effectively. The RSF arrangement will support climate adaptation efforts while integrating climate considerations into public investment management.