breaking news
DRC: IMF submits to the executive the pre-report of its Article IV mission
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
The NBA is mourning the loss of one of its greatest defensive icons. Dikembe Mutombo, the former 7-foot-2 center, passed away at the age of 58 due to a brain cancer, as reported by The Athletic on Monday, September 30.
A defensive record-holder
Born in the Democratic Republic of Congo, Mutombo left an indelible mark on the NBA with his exceptional defensive skills. During his career, he won the Defensive Player of the Year award four times (1995, 1997, 1998, 2001), a record he shares with Ben Wallace and Rudy Gobert. Gobert, in achieving this feat, highlighted the legacy Mutombo left on the game.
Drafted in 1991 by the Denver Nuggets, Mutombo went on to play for several notable teams, including the Atlanta Hawks, Philadelphia 76ers, New Jersey Nets, New York Knicks, and finally the Houston Rockets, where he retired in 2009.
A life of commitment beyond basketball
Although Mutombo never won an NBA championship, with two finals losses (in 2001 with the 76ers and 2003 with the Nets), he was inducted into the Hall of Fame in 2015. Beyond his impressive sports career, he dedicated his life to humanitarian efforts, particularly in Africa. He worked tirelessly to develop basketball across the continent and to help those in need.
NBA Commissioner Adam Silver praised his contributions in a statement: “Dikembe dedicated his life to helping others. He was not only a great player but also a global ambassador for basketball and a humanitarian. His commitment to the community, especially in his native Congo, will be forever remembered.”
Mutombo’s legacy continues to inspire generations of players and humanitarians around the world.
ZoomEco
Africa is home to 83% of the world’s non-electrified population. A thundering paradox, given the continent’s immense hydroelectric potential.
The continent faces a shortage of affordable, reliable and sustainable energy. A think tank dedicated to the development of long-term public and energy policies points out that this is holding back the momentum of individuals and companies alike.
According to the experts, the pace of electrification needs to triple in order to absorb this deficit, rethink several economic models, and put Africans on the path to prosperity.
Dynamic project vehicles on the move
The World Bank Group has pledged to connect 250 million people to electricity, while the African Development Bank (AfDB) will do the same for a further 50 million.
The World Bank Group’s investments are already providing the impetus needed to reach the target, illustrated in its ambitious “Mission 300” program.
East Africa
On Thursday September 25, 2024, Bruno Tshibangu Kabaji, Managing Director of the Agence Nationale pour la Promotion des Investissements (ANAPI), and Hesham El Mekwad, the Egyptian ambassador accredited to the Democratic Republic of Congo, exchanged views on investment and trade issues.
The Egyptian diplomat was accompanied by Adham Thabet, development cooperation advisor at the Embassy of the Arab Republic of Egypt.
Discussions between the two personalities focused in particular on the role of ANAPI as the body responsible for supporting investors in the DRC.
While stressing the need to increase economic and commercial cooperation between Egypt and the DRC, the two parties encouraged Egyptian investors to step up their presence in several fields in the DRC, notably energy, transport, infrastructure and agriculture, fisheries and livestock.
With this in mind, the Egyptian Ambassador expressed the wish to establish regular contacts with ANAPI to support this mutual ambition.
Nadine FULA
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