IMF Board Approves $368 Million Credit to Boost Congo’s Reserves
- Reserves “critically low” amid central bank deficit financing
- IMF will send staff to monitor economy through May 2020
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The executive board of the International Monetary Fund agreed Monday to a $368.4 million credit facility to boost Democratic Republic Congo’s falling reserves.
The Washington-based lender will also send staff to the central African nation through the end of May to help prepare Congo for its first formal IMF loan program since 2012, the IMF said in an emailed statement.