DRC promises central bank reforms

Kinshasa makes pledges to IMF in return for $1.5 billion three-year loan

kinshasa in the democratic republic of congo
Kinshasa, DRC

The Democratic Republic of the Congo and the International Monetary Fund have completed a preliminary agreement for a $1.5 billion loan, the IMF announced on May 28. As part of the loan package, the DRC will pledge to reform the central bank’s board and end central bank financing of the government.

The DRC government will undertake “to reinforce central bank autonomy” through governance reforms. Specifically, it will ensure the Banque Central du Congo’s board is reconstituted in “compliance

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