IMF board approves $203million disbursement to DR Congo

International Monetary Fund logo is seen outside the headquarters building during the IMF/World Bank spring meeting in Washington, U.S.

The International Monetary Fund’s executive board has concluded a third programme review allowing for an immediate disbursement of about $203 million to Democratic Republic of Congo, it said on Tuesday.

Congo has a three-year, $1.5 billion extended credit facility programme with the lender agreed last year, to help meet financing needs associated with the coronavirus pandemic.

“Progress under the program remains satisfactory,” the IMF said in a statement. “This disbursement will help reinforce international reserves, given downside risks to the domestic and global economy outlook.”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s