DRC: the country is on track to receive an additional $200 million from the IMF
Published on: 23/11/2022 - 10:10
At the IMF headquarters. The DRC is on track to benefit from an additional $200 million from the institution. © AFP/Mandel Ngan
Text by:
RFIFollow
2 minutes
The DRC is on track to benefit from an additional $200 million from the IMF to support its balance of payments. This follows the conclusions of the third review of the economic reform program supported by the IMF's "extended credit facility". After evaluation, the main indicators are green, but there are still some challenges to be met, according to the experts of this Bretton Woods institution.
With our correspondent in Kinshasa,
Patient Ligodi
During the previous review of the program in July, the IMF insisted on the publication of the memorandum of understanding signed in February between the government and the Fleurette group of Israeli businessman Dan Gertler. The agreement allows the government, according to the Congolese authorities, to recover mining and oil assets estimated at $2 billion. However, the contours and content of the arrangement were considered unclear by civil society.
Protocol
This time, Kinshasa agreed to publish this memorandum of understanding. Nicolas Kazadi is Minister of Finance: "In principle, in the coming days, it will be made public. We hope to do it before the end of the week. We will turn the page on this contract to move forward. This will allow the country to recover its mining assets and then move forward. ”
In terms of the structure of the economy, the country wants to maintain growth at more than 6%. To do this, the country is still counting on its mines: "We are building the largest cobalt refining plant in the world. This will allow us to increase the value of exported cobalt by up to 40%.
In addition to this, we have the project to produce battery components. It will also be an element that will completely change our economy, "says Nicolas Kazadi.
Get out of all mining
At the same time, the country wants to get out of the logic of the mining: "Agricultural sector expenditure represented around 1% of the budget in 2019. Today, they are at 10%, "illustrated the Minister of Finance.
Well I might have to give it a crack tbh 
Market can change & deductions will be finalised
