Kinshasa: The Executive Board of the International Monetary Fund (IMF) has successfully completed the first review under the Extended Credit Facility (ECF) Arrangement for the Democratic Republic of the Congo (DRC). This review, initially approved on January 15, 2025, has facilitated an immediate disbursement of 190.4 million SDR, which translates to approximately US$ 261.9 million. This action aims to address the balance-of-payment needs, with total disbursements reaching 380.5 million SDR, or about US$ 523.4 million.
According to International Monetary Fund, the DRC has been grappling with substantial challenges due to the intensification of armed conflict in its eastern region since late 2024. The conflict has resulted in significant loss of life and has disrupted essential services including food, water, and electricity. Diplomatic efforts are in place to achieve a ceasefire, with a recent peace agreement signed on June 27, 2025, between the DRC and Rwanda, mediated by the United States, offering hope for a peaceful resolution.
Despite the adverse conditions, the DRC’s economy has shown resilience, achieving a GDP growth rate of 6.5 percent in 2024, largely driven by the extractive sector. The country has reported strengthening external stability with a narrowing current account deficit and accumulated international reserves. Inflation has eased considerably, declining from 23.8 percent at the end of 2023 to 8.5 percent by the end of June 2025.
The conflict has prompted the DRC government to increase spending, impacting the domestic fiscal deficit, which is projected to exceed initial estimates for 2025. Nonetheless, authorities anticipate returning to budgetary targets by 2026, with commitments to enhance domestic revenue mobilization and strengthen budget implementation. A contingency plan has been adopted to mitigate unforeseen economic shocks.
The Central Bank of the Congo (BCC) has maintained a stringent monetary policy, contributing to a significant reduction in inflation, which is now in single digits for the first time in three years. Continued efforts are necessary to refine monetary policy, improve governance at the BCC, and ensure its recapitalization.
The DRC authorities are dedicated to maintaining macroeconomic stability and accelerating structural reforms in areas such as the anti-money laundering framework, business climate, transparency, governance, and corruption. These measures are foundational to the timely implementation of reforms under the RSF arrangement approved earlier this year.