KINSHASA: The IMF voiced concern Wednesday over DR Congo´s 2020 budget and urged its central bank to stop drawing down foreign currency reserves and advancing money to the government.
In late December, the International Monetary Fund granted $368 million in credit to the Democratic Republic of Congo to deal with urgent balance-of-payments problems. That same month, the country´s draft 2020 budget was estimated to be the equivalent of $10.59 billion, for a nation of around 80 million, of whom two-thirds live on less than $2 per day.
On Wednesday, IMF staff, after a fact-finding mission, issued a statement expressing "concerns arising from spending pressures and lackluster revenue, which have resulted in renewed central bank advances to the government and erosion of its foreign reserves." The "mission stressed the need to put immediately a stop to central bank advances and repay those given," it said.
The fund did welome a "Treasury Plan" published by the finance ministry, which it considered "consistent with realistic revenue projections."
Trump, 77, is charged with 34 counts of falsifying business records
Garcetti said a criminal case and indictment had been brought “and if there is any connection to state actors in...
Tehran has always said it had no plans to obtain nuclear weapons
“Both sides have been working together to ensure continued operation of Indian aviation platforms,” India’s...
“China is one of the pillars of the new world order,” Orban said
“We are putting maximum pressure on our partners to increase weapon deliveries,” Zelensky said