Congo unlocks $442m IMF funding on key reforms

imf International Monetary Fund headquarters washington dc

The International Monetary Fund logo.

Photo credit: AFP

The International Monetary Fund (IMF) has approved a $442 million disbursement to the Democratic Republic of Congo (DRC) after the country implemented key reforms under a 38-month lending programme approved earlier this year.

The IMF last week completed the second review of its Extended Credit Facility (ECF) and the first review of its Resilience and Sustainability Facility (RSF), unlocking $260 million under the RSF and $182 million under the ECF.