Trending
- Saudi Islamic Development Bank to the rescue of Uganda with $295 million loan
- Reshaping the future of sustainable food systems in Africa
- African Heads of State call for tripling of World Bank’s concessional financing
- SpaceX offers Starlink kit at half price for first-time Kenyan customers
- Mobile Banking Reshaping the Gender Gap in Financial Inclusion
- Unleashing ideas: AIM Congress sets the stage for over 450 dialogue sessions
- Abu Dhabi welcomes over 330 partners for AIM Congress 2024
- Kenyan Farmers Receive $2M Boost from Africa Fertiliser Financing Mechanism
Browsing: Anti-Money Laundering and Combating the Financing of Terrorism
- DRC’s economy is rising with real GDP growth at 8.9 percent in 2022 and projected to 6.8 percent in 2023.
- Macroeconomic imbalances have, however, emerged piling inflationary pressures.
- The roiling conflict in the East and upcoming elections complicate macroeconomic management.
The International Monetary Fund (IMF) has outlined a number of tough measures for war-tone DRC as it seeks $200 million financing. The funds are part of the country’s Special Drawing Rights (SDR), the supplementary forex reserves maintained by the IMF. They are units of account for the IMF, and not a currency per se. What’s more, they represent a claim to currency held by IMF member countries and DR Congo can access about $200 million.
An IMF team led by Mercedes Vera Martin met with the authorities in Kinshasa between April 19–May 3. This was on the fourth review of the three-year arrangement under DRC’s Extended Credit Facility (ECF).
