The International Monetary Fund (IMF) announced Wednesday it has completed the first review of its Extended Credit Facility programme for the Democratic Republic of Congo.
This approval clears the way for an immediate disbursement of $261.9 million to the central African nation.
The review follows Congo’s efforts to stabilise its economy amid rising inflation, conflict-driven instability, and growing development needs.
The IMF said the Congolese authorities remain committed to key reforms aimed at strengthening public finances and improving transparency.
The disbursement is part of a larger $1.52 billion arrangement approved by the IMF in December 2023 to support Congo’s economic programme.
Congo’s government has pledged to step up domestic revenue collection and prioritise social spending to alleviate poverty and improve infrastructure.
The IMF noted that while economic growth remains resilient, it is threatened by ongoing violence in the eastern provinces and volatile global commodity prices.
Congo is one of Africa’s largest producers of copper and cobalt, critical minerals in the global energy transition.
However, decades of conflict, corruption, and weak institutions have stifled development and left millions living in extreme poverty.
The IMF said sustained progress will depend on peace, stronger governance, and continued international support.
The next review under the credit facility is expected later this year.