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 Download

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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: 1513588737
Category : Business & Economics
Languages : en
Pages : 120

Get Book Here

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.

Republic of Congo

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

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Book Description

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

Republic of Congo: Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Congo PDF Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 113

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Book Description
A new wave of the COVID-19 pandemic is creating headwinds for the nascent economic recovery from the deep recession spurred by the pandemic’s onset and related oil price shocks. Over the medium term, reforms supporting improved governance, economic diversification, and resilience will help confront challenges from climate change, and the global transition to low-carbon economies—gradually resulting in improved incomes, job creation, inequality, and exit from fragility. In the near term, fiscal space to address these challenges is limited. Although debt sustainability was recently restored, large liquidity risks and vulnerabilities remain. Due to arrears and on-going negotiations with an external commercial creditor, debt is classified as “in distress”. The recent AIV consultation concluded on September 24, 2021.

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.

Republic of Congo

Republic of Congo PDF Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 130

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Book Description
As declining oil prices and rising funding costs challenge Congo’s economic recovery, public debt remains high, and additional fiscal consolidation needs to compensate past fiscal slippages. Newly recognized domestic arrears and the temporary accumulation of new external arrears impede progresses made in debt repayment, implying that debt remains sustainable but “in distress”. Economic recovery will depend on regaining fiscal space, reducing debt levels, and continuing reforms promoting improvements in revenue generation, debt management, governance, and transparency. The second review of the three-year Extended Credit Facility (ECF) arrangement (SDR 324 million, 200 percent of quota) that was concluded by the IMF Executive Board on February 6, 2023, provided support for this process.

Republic of Congo

Republic of Congo PDF Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN:
Category :
Languages : en
Pages : 155

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Book Description
The fourth review of a three-year Extended Credit Facility (ECF) arrangement (SDR 324 million, 200 percent of quota) was concluded on December 20, 2023. Economic growth momentum softened in 2023 as oil production surprised on the downside, which, together with the 2023-2024 floods, challenges in the provisioning of electricity, and weaker public investment, weighed on non-hydrocarbon growth as well. Growth is expected to recover to close to 4 percent over the medium term. Under-execution of public spending across the board, but particularly on capital expenditures and social transfers, brought the 2023 non-hydrocarbon primary deficit to 8.4 percent of non-hydrocarbon GDP, which is 3.2 percentage points lower than projected in the fourth review (CR 24/2). However, the current account weakened, a trend that is projected to continue over the medium term, as oil production stagnates while oil prices are slightly trending down. Despite external arrears remaining below the de-minimis threshold, public debt is assessed as sustainable but “in distress” due to frequent accumulation of new external arrears and lingering uncertainty about the size of domestic arrears.

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.

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: 1616358327
Category : Business & Economics
Languages : fr
Pages : 113

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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.