DRC President Tshisekedi Seals IMF Agreement on Economic Program
President Félix Tshisekedi of the Democratic Republic of Congo (DRC) met with an International Monetary Fund (IMF) delegation led by Calixte Ahokpossi on Wednesday, May 8, at the African Union City. This meeting marked the closure of the sixth review of the DRC’s economic and financial program.
Ahokpossi announced that the DRC authorities and the IMF team had reached a staff-level agreement for concluding the sixth review under the Extended Credit Facility (ECF) arrangement, pending validation by IMF management.
He expressed satisfaction with the progress made by the government, indicating that the program’s performance for this review was deemed satisfactory.
Minister of Budget Aimé Boji emphasized the significance of this achievement, stating that successfully concluding the program would be unprecedented in the country’s history since independence.
The IMF Executive Board is scheduled to review this agreement and conduct Article IV consultations in early July 2024. Upon completion, the review will unlock a disbursement of US$152.3 million to bolster the DRC’s international reserves.
