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Mon, 21 Sep 2020 14:47 - Updated Mon, 21 Sep 2020 14:47

DRC announces reforms required to access IMF credit facilities

Kinshasa - President of the Democratic Republic of Congo (DRC) Félix Antoine Tshisekedi Tshilombo has informed the ministers on the International Monetary Fund (IMF) recommendations on the key reforms the country must carry out to access to the extended credit facilities of this institution. Bretton Woods.

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President of DRC, Félix Antoine Tshisekedi Tshilombo

Photo: Pedro Parente

Government spokesman David-Jolino Makelele, who announced the meeting in a note sent to PANA on Saturday in Kinshasa, said that it is about the management of the Central Bank of Congo (BCC), transparency in the mining sector and presentation realistic budget.
 

The prime minister is in charge of ensuring that the initiatives taken by the institutions and the sectoral ministries involved contribute to the achievement of the stated objective.
 

DR Congo and the IMF decided to re-establish their cooperation at the end of the meeting held by the Congolese head of state, on April 5, 2019, in Washington (United States), with the then Director-General of the FM, Christine Lagarde.
 

The audit of the DRC's economy represents the requirement that should condition the rest of the process. The IMF has suspended its cooperation with DR Congo since 2012, due to opacity in the management of natural resources.
 

The IMF represents one of the most important financial institutions in the world, whose mission is to encourage financial stability and economic cooperation, produce statistics and studies, as well as lend funds in exchange for reforms in countries in crisis.
 

To ensure financial stability, the IMF can provide loans to countries in difficulty, including a public debt crisis and or an exchange rate crisis.

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