Browsing: Anti-Money Laundering and Combating the Financing of Terrorism

DRC Congo, Banks in Congo, Cobalt in Congo
  • 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).