Democratic Republic of the Congo: Request for a Three-Year Arrangement Under the Extended Credit Facility; Review of Performance Under the Staff Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of Congo

Democratic Republic of the Congo: Request for a Three-Year Arrangement Under the Extended Credit Facility; Review of Performance Under the Staff Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of Congo PDF Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513588737
Category : Business & Economics
Languages : en
Pages : 120

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Book Description
The Democratic Republic of the Congo (DRC) is a fragile state and vulnerable to recurrent shocks. Relations with the Fund have been quite active since early 2019, with a Staff Monitored Program (SMP) coupled with a Rapid Credit Facility (RCF) disbursement in December 2019 and a second RCF disbursement in April 2020 to respond to the COVID-19 crisis. Economic activity decelerated sharply in 2020 because of the crisis and reserves decreased to less than two weeks of imports. President Tshisekedi requested a three-year Extended Credit Facility (ECF) arrangement to support his medium-term reform program.

Democratic Republic of the Congo: Request for a Three-Year Arrangement Under the Extended Credit Facility; Review of Performance Under the Staff Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of Congo

Democratic Republic of the Congo: Request for a Three-Year Arrangement Under the Extended Credit Facility; Review of Performance Under the Staff Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of Congo PDF Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513596500
Category : Business & Economics
Languages : fr
Pages : 127

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Book Description
The Democratic Republic of the Congo (DRC) is a fragile state and vulnerable to recurrent shocks. Relations with the Fund have been quite active since early 2019, with a Staff Monitored Program (SMP) coupled with a Rapid Credit Facility (RCF) disbursement in December 2019 and a second RCF disbursement in April 2020 to respond to the COVID-19 crisis. Economic activity decelerated sharply in 2020 because of the crisis and reserves decreased to less than two weeks of imports. President Tshisekedi requested a three-year Extended Credit Facility (ECF) arrangement to support his medium-term reform program.

Democratic Republic of the Congo

Democratic Republic of the Congo PDF Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description

Democratic Republic of the Congo

Democratic Republic of the Congo PDF Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 90

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Book Description
Macroeconomic gains under the program so far are partly overshadowed by recurrent shocks. Due to the war in Ukraine and global economic developments, the Democratic Republic of the Congo is experiencing a terms-of-trade shock associated with rising energy and food prices (pushing inflation above 12 percent) and falling prices for mining products. Compounding these headwinds, the escalation of the armed conflict in the east of the country is having major negative economic, security and humanitarian effects, the magnitude of which—if the situation persists or worsens further—could jeopardize recent progress.

Democratic Republic of the Congo

Democratic Republic of the Congo PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1455285994
Category : Business & Economics
Languages : en
Pages : 72

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Book Description
Congo’s economic program aims to enhance macroeconomic stability and advance reforms to bolster economic management and improve the supply response of the economy. Progress in implementing the program has been affected negatively by the continuation of conflict. Fiscal policy aims at reducing government recourse to central bank financing. Structural reforms in revenue mobilization and public financial management (PFM) are critical for achieving the fiscal policy objectives. Pressing ahead with structural reforms is required for higher economic growth. Executive Directors suggest adoption of the Lending into Arrears Policy.

Democratic Republic of the Congo

Democratic Republic of the Congo PDF Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 115

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Book Description
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.

Democratic Republic of the Congo

Democratic Republic of the Congo PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1455208418
Category : Business & Economics
Languages : en
Pages : 70

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Book Description
Congo’s economic program aims to enhance macroeconomic stability and advance reforms to bolster economic management and improve the supply response of the economy. Progress in implementing the program has been affected negatively by the continuation of conflict. Fiscal policy aims at reducing government recourse to central bank financing. Structural reforms in revenue mobilization and public financial management (PFM) are critical for achieving the fiscal policy objectives. Pressing ahead with structural reforms is required for higher economic growth. Executive Directors suggest adoption of the Lending into Arrears Policy.

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 the Democratic Republic of the Congo

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 the Democratic Republic of the Congo PDF Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1616355808
Category : Business & Economics
Languages : en
Pages : 98

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Book Description
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.

International Monetary Fund Annual Report 2021

International Monetary Fund Annual Report 2021 PDF Author: International Monetary Fund. Secretary's Department
Publisher: International Monetary Fund
ISBN: 1513568817
Category : Business & Economics
Languages : en
Pages : 74

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Book Description
A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.

Guidance Note for Fund Staff on the Treatment and Use of SDR Allocations

Guidance Note for Fund Staff on the Treatment and Use of SDR Allocations PDF Author: International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
ISBN: 1498335632
Category : Business & Economics
Languages : en
Pages : 23

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Book Description
Against the backdrop of the global financial crisis, the IMF has decided to implement a US$250 billion general allocation of special drawing rights (SDRs). In addition, the Fourth Amendment of the Fund’s Articles of Agreement has recently become effective, and will make available to SDR Department participants a special allocation of up to an additional SDR 21.5 billion (US$33 billion). Nearly US$115 billion of these combined allocations will go to emerging market and developing countries, including about US$20 billion to low-income countries (LICs), thereby providing an important boost to the reserves of countries with the greatest needs.