Request for Budget Support: IMF President Responds to Tshibala

13 July 20172min

In a letter from the President of the International Monetary Fund (IMF) Christine Lagarde, addressed to the Prime Minister of the Democratic Republic of the Congo, Bruno Tshibala, the number one of this Bretton Woods institution, replies to the Head of the Congolese Government who, by a letter dated 12 June, has submitted a request for budgetary support in order to control the economic situation, which continues to worsen.

The IMF suggests to the Tshibala team, before any assistance, to send a team of its experts during the second half of September 2017, for consultations, with a view to making an up-to-date assessment of the economic situation of the country and an inventory of the financial needs of the government.

“Our support will have to be placed in a context allowing an improvement of the macroeconomic situation also involving the financing of the main partners of the DRC”, reads this correspondence dated 29 June 2017.

The IMF lays the trajectory of political stability as a prerequisite for the two conditions mentioned above. “If these conditions were present, the IMF staff team would be in a position to discuss with you in September a possible financial support under the Rapid Credit Facility”.

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