The International Monetary Fund (IMF) mission has submitted to the national executive the preliminary report of its Article IV consultation of the Bretton Woods institution’s statutes. It was during a seminar that took place on Tuesday, June 4, 2019, at Kimpinsky Hotel Kinshasa.

An official statement announcing the end of the mission should be published in the coming hours.

Indeed, for two weeks, both parties were able to review the evolution of the macroeconomic and financial situation of the DRC since the last IMF consultations in 2015; and they also assessed the presence of potential risks that could affect the stability of this situation.

Information and bases produced will have allowed the experts to analyze them and the results of these are the subject of IMF recommendations for adjustments of economic and financial policies conducted by the Congolese government.

According to the head of the delegation, the mission worked in particular on the management of the economic and budgetary policy as well as the debt which is its specialty.

« The key challenge of the Congolese government is to increase revenue and financial resources », he said at the end of the hearing given to his delegation by the head of state the same day to the N’sele.

Between the lines, it should be understood that the IMF has exchanged with the Congolese party on the way it intends to support the DRC in its efforts for the recovery of its economy and its public finances.

Following discussions with the national executive on preliminary findings of the DRC consultations, the IMF mission will finalize its report to the Executive Board. It will be accompanied by recommendations for better economic governance and eventually to access technical and financial assistance for the DRC.

https://twitter.com/Presidence_RDC/status/1135946888132354048

As a reminder, the IMF delegation has obviously found a much improved situation after the economic crisis that the country experienced between 2016 and 2017. It also noted the beginning of the implementation of reforms that need to be reinforced by rigorous governance.

Three years later, the latest IMF Article IV consultation, which dates back to 2015, has been based on four criteria, according to country governor and Minister of Finance Henri Yav, according to their relevance. to respond to the priorities designated by the Head of State, Felix Tshisekedi.

It is about: maintaining macroeconomic stability through appropriate fiscal and monetary policies; improve governance, especially the fight against corruption; ensure the sustainability of the public debt; promote the competitiveness of the economy.

In addition to the IMF team, delegates from development partners, parliamentarians, the governor of the Central Bank of Congo (BCC), some members of the government and the Chief of Staff of the Head of State took part in this seminar.

Nadine FULA