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- The IMF Board of Directors approved a three-year aid program for the DRC on July 15, 2021
- The outcome of the negotiations confirmed recently by the IMF representative in Kinshasa, during a joint conference with Nicolas Kazadi, Minister of Finance
- The program includes the disbursement of 1.5 billion dollars over 3 years, in exchange for certain reforms
The IMF Board of Directors approved a three-year aid program for the DRC on July 15, 2021. The outcome of the negotiations was confirmed recently by the IMF representative in Kinshasa, during a joint conference with Nicolas Kazadi, Minister of Finance. The program includes the disbursement of 1.5 billion dollars over 3 years, in exchange for certain reforms.
An initial disbursement of US$217 million has already been made, and will enable the country to strengthen its macroeconomic stability. Moreover, this cooperation with the IMF appears to be a reassuring signal to attract further external financing.
One of the major objectives of the IMF-supported program is to show that the government is committed to a reform program that will ensure a certain macroeconomic and financial stability that should translate into better economic and long-term growth prospects and thus attract partners and investors, whether domestic or foreign. Future disbursements, the IMF officials said, would depend on strict adherence to the reform program agreed between the IMF and the DRC. Gabriel Leost is optimistic about the potential of the resource-rich country.
