Democratic Republic of Congo: Requests for an Arrangement Under the Extended Credit Facility and an Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Re

This paper presents Congo’s Requests for an Arrangement under the Extended Credit Facility (ECF) and an Arrangement under the Resilience and Sustainability Facility (RSF). The ECF-supported program aims to preserve macroeconomic stability, improve the business climate, enhance governance and transparency, and foster inclusive growth. The RSF-supported program will support Congo in advancing its climate adaptation and mitigation agenda while consolidating its role as a solution country in the transition to a low-carbon global economy. Under the new ECF arrangement, the authorities plan to boost growth and create fiscal space for priority investment and social spendings. The Central Bank of the Congo has appropriately maintained a tight monetary policy stance to combat inflation, which has consequently declined substantially in 2024. The authorities aim to continue efforts to accumulate international reserves, strengthen the monetary policy implementation framework and the foreign exchange intervention strategy, to help enhance the transmission of monetary policy and alleviate pressures in the foreign exchange market.