IMF, DRC reach preliminary agreement on new economic program review under ECF
The International Monetary Fund (IMF) and the Democratic Republic of the Congo (DRC) have reached a preliminary staff-level agreement on the first review of the country’s three-year economic and financial program, backed by the IMF’s Extended Credit Facility (ECF).
The agreement remains subject to approval by IMF management and the Executive Board, with a decision expected by the end of June 2025, Actualite reports.
The IMF mission to Kinshasa, led by Calixte Ahokpossi, IMF Mission Chief for the DRC, conducted a review from April 30 to May 13, 2025, which focused on assessing the progress made under the ECF-supported program initiated following the conclusion of the previous arrangement in 2024.
According to Mr. Ahokpossi, the Congolese economy has demonstrated resilience in the face of persistent challenges. “Economic activity has remained resilient, with robust GDP growth of 6.5 percent in 2024. Growth is projected to remain above 5 percent in 2025, driven by continued dynamism in the extractive sector,” he said in a statement released on May 13.
Inflation fell to single-digit levels in April 2025, the first of its kind since July 2022.
Despite the positive economic trajectory, the DRC continues to grapple with the fallout from intensified conflict in its eastern regions. “Since the last quarter of 2024, the DRC has faced an escalation of armed conflict in its eastern part. The intensification of hostilities has cost the lives of thousands and caused severe humanitarian, social, and economic repercussions, particularly in the provinces of North and South Kivu,” Ahokpossi noted.
The new agreement follows the conclusion of the sixth and final review of the previous ECF-supported program launched in 2021, valued at USD 1.5 billion. That program helped significantly boost the DRC’s international reserves from $1.7 billion to $6 billion, which contributed to gradual macroeconomic stabilization despite challenging circumstances.
