Satisfactory policy implementation continues in the Fund-supported program under challenging conditions. The authorities met all quantitative performance criteria at end-December 2010 and structural reforms progressed well, including in the extractive industries, where these reforms are expected to contribute to economic growth.
The three-year ECF arrangement for the DRC was approved on December 11, 2009 in an amount equivalent to SDR 346.45 million (about US$561.1 million, or 65 percent of the country’s quota in the Fund). In mid-2010, the Executive Boards of the IMF and the World Bank’s International Development Association supported US$12.3 billion in debt relief for the DRC under the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative DRC has been a member of the Fund since September 1963.
IMF Arrangement with the Democratic Republic of the Congo. Approves US$80 Million Disbursement
Special Correspondent - 2011-04-29 23:27
The Executive Board of the International Monetary Fund (IMF) has completed the third review of the Democratic Republic of Congo’s (DRC) economic performance under a three-year Extended Credit Facility (ECF) arrangement. The Board's decision, which was taken on a lapse-of-time basis, enables the authorities to draw an additional SDR 49.493 million (about US$80.2 million), bringing total disbursements under the arrangement to an amount equivalent to SDR 197.972 million (about US$320.6 million).