This archive report was first published on 17 December 2019.
On December 16, 2019, the International Monetary Fund (IMF) announced a $368.4 million credit facility for the Democratic Republic of Congo to help the country meet its urgent balance of payment needs.
According to the IMF, the economic environment in the DRC remains challenging and vulnerable to shocks. The country's real GDP growth is projected to decelerate to 4.5 percent in 2019 from 5.8 percent in 2018, and international reserves have fallen to critically low levels.
President Felix Tshisekedi, who took office in January 2019, has vowed to enact sweeping reforms and root out corruption in the country. The DRC ranked 161 out of 180 on the Transparency International corruption perceptions index released in January 2019.
The IMF stated that the new government is committed to addressing issues related to poor governance, a difficult business environment, and pervasive poverty.
By AFP
