The Executive Board of the International Monetary Fund (IMF) will decide, on August 26, 2019, on the report of the recent mission of the Article IV consultations, which enabled it to review the evolution of the situation. country’s economy. In the event of a favorable opinion, this decision will serve as a foundation for the Congolese government to solicit the conclusion of its Economic Program with support from the IMF.

« It is true that the DRC is waiting for the review and evaluation of this report in the third quarter of 2019 by the IMF’s Executive Board. It is at the end of this evaluation that the DRC will begin negotiations with this institution for the conclusion of the Government’s Economic Program that will be supported by IMF resources. It goes without saying that other financial partners such as the World Bank, the World Bank, the African Development Bank, the European Union and others can also accompany the country in this context », said the governor of the Bank central Congo at a recent press briefing.

In concrete terms, the Board of Directors will only take a decision on August 26th on the Assessment Report on the DRC’s economic situation and possibly make recommendations to the Congolese authorities.

In the event of a favorable decision, it will be up to the Congolese government to concretize the wish expressed by the head of state, Félix-Antoine Tshisekedi, during his visit to the IMF last April, that of negotiating the conclusion of the Program. government’s economy supported by the Fund’s resources.

Therefore, the IMF’s Article IV consultation mission is only a first step in a process that consists simply of making a diagnosis on the behavior of the economy of a member country of this institution. Bretton Woods and provide him with some practical advice to improve management.

RE(READ): Five IMF Remedies Prescribed to Congolese Authorities

Sophisticated analysts believe that in light of the generally satisfactory preliminary conclusions of these consultations that took place in the DRC from May 22 to June 5, the IMF’s Executive Board would not go against a favorable note.

As a reminder, the Preliminary Report of the mission led by Mauricio Villafuerte, the recommendations made to the DRC focused on the policies that will ultimately enable the diversification of the economy and tackle the high levels of poverty and unemployment. in a population that continues to grow at a worrying speed.

The last IMF Executive Board meeting on the Article IV assessment of the DRC economy took place on June 9, 2014. The Executive Director, as Chairman of the Executive Board, summarized the the opinions of the directors at the end of the deliberations and communicated them to the Congolese authorities.

Eric Tshikuma

DRC: IMF submits to the executive the pre-report of its Article IV mission