Congo Secures $203 Million from IMF in Latest Plan Review
- Economy will grow 6.6% in 2022 amid high mining output
- Global fuel and food prices spur 12% inflation rate for 2022
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The International Monetary Fund will disburse $203 million to help boost Democratic Republic of Congo’s foreign reserves after a “satisfactory” third review of its $1.5 billion loan agreement.
Congo, the world’s biggest source of battery mineral cobalt, met most of the criteria of the three-year program, the Washington-based lender said in a statement Tuesday.