Democratic Republic of the Congo: Review of the 2006 Staff-Monitored Program and a New Staff-Monitored Program for 2007: Staff Report; Staff Statement; Statement by the Executive Director for the Democratic Republic of the Congo
Volume/Issue:
Volume 2007
Issue 328
Publication date: September 2007
ISBN: 9781451808421
$20.00
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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , Business and Economics - Statistics , ISCR , CR , government , Congo , Avoiding central bank financing , broad money , Congolese authorities , financing of the budget , draft budget , seating regime , government financial situation , Debt relief , Government finance statistics , Arrears , Fiscal stance , Southern Africa , Central Africa , Global , Africa
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Summary
This paper reviews the 2006 Staff-Monitored Program (SMP) and a New Staff-Monitored Program for 2007 for the Democratic Republic of the Congo. Most quantitative and structural benchmarks under the SMP for April–December 2006 were not met; nevertheless, the SMP helped prevent major financial instability during the protracted electoral period. Cognizant of the need to reestablish macroeconomic stability, the government agreed on a policy framework for 2007 to be monitored by the IMF staff. Satisfactory performance under the SMP would open the way for discussions on a new arrangement under the Poverty Reduction and Growth Facility.
