The IMF director in Kinshasa to discuss the program concluded with the DRC

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), arrived in Kinshasa on Tuesday.

Daniel LEAL AFP / File

Text by: RFI Follow

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Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), arrived in Kinshasa on Tuesday.

This is his first trip to the African continent since the start of the Covid-19 pandemic.

This official visit is to last until December 9.

This Wednesday, she will be received by Congolese President Félix Tshisekedi.

On the menu of their discussions, the implementation of the new program concluded between the IMF with the DRC.

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With our correspondent in Kinshasa

,

It has been a long way.

After several months of negotiations,

last July.

This is a three-year program that will relieve the DRC's balance of payments with a final disbursement of around $ 1.5 billion.

Disbursement under the "IMF Extended Credit Facility" (ECF) which provides financial assistance to countries experiencing prolonged balance of payments difficulties.

A breath of fresh air for the DRC.

These funds must support the post-Covid recovery, allow the constitution of international reserves and support the implementation of reform programs.

Particularly in improving the tax system and governance.

These funds are in addition to the general allocation of "Special Drawing Rights" (SDRs), another IMF mechanism, amounted to about $ 1.5 billion and approved last August.

The government has undertaken to divide this allocation equally between the Central Bank and the Ministry of Finance.

The IMF, for its part, insists on the efficient use of these funds, in particular so that all calls for tenders associated with projects comply with the principles of transparency in accordance with the law on public procurement.

. @ KGeorgia: I look forward to seeing Africa again for the first time since the start of the pandemic, seeing the efforts being made in the face of it, and hearing regional views on how to do it. ensure a greener, fairer and smarter future.

#FMIAfrique https://t.co/v9KgOBmGx8 pic.twitter.com/7XGsqqOK2t

- IMFactualites (@FMIactualites) December 7, 2021

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