The International Monetary Fund (IMF) has approved an immediate disbursement of US\$261.9 million to the Democratic Republic of the Congo (DRC), following the completion of the first review under the Extended Credit Facility (ECF) arrangement. This brings the total IMF disbursement to the DRC to US\$523.4 million since January 2025.
The injection of funds comes at a critical time as the DRC grapples with heightened conflict in its eastern regions, which has strained public finances and threatened economic stability.
Despite this, the DRC posted a real GDP growth of 6.5 percent in 2024, driven primarily by continued expansion in the extractive sector, which grew by 12.2 percent.
Key economic indicators show a sharp drop in inflation, from 23.8 percent at the end of 2023 to 11.7 percent by the end of 2024, and further to 8.5 percent by June 2025—marking a return to single-digit inflation for the first time in three years.
The domestic fiscal deficit widened to 0.8 percent of GDP in 2024, overshooting the program target of 0.3 percent, due to exceptional security-related expenditures.
Exports reached 47.4 percent of GDP in 2024, while the current account deficit narrowed significantly to -3.9 percent in 2024 and is projected to fall further to -2.8 percent in 2025.
Gross official reserves rose to 10.1 weeks of import cover in 2024 and are projected to reach 11.8 weeks in 2025, signaling stronger external resilience.
The IMF hailed the recent peace agreement signed on June 27, 2025, between the governments of the DRC and Rwanda, mediated by the United States, as a key step toward stability and renewed focus on development.
The conflict in eastern DRC, which intensified in late 2024, has resulted in thousands of deaths, extensive displacement, and widespread disruptions to essential services.
Despite the turmoil, the IMF praised the authorities for showing commitment to structural reforms. While some quantitative targets were missed—particularly on social spending and spending through emergency procedures—most indicative targets and performance criteria were met. The IMF approved waivers for missed criteria based on corrective actions already underway.
GDP growth is projected at 5.3 percent in 2025 and 2026, slightly lower than 2024, as the country shifts focus from conflict to development. Debt service as a share of government revenue is expected to increase to 7.1 percent in 2025, up from 6.1 percent in 2024, reflecting rising fiscal pressure. The IMF warned of downside risks, including ongoing conflict, reduced international aid, and global economic headwinds.
The IMF urged continued efforts to strengthen monetary policy, improve foreign exchange strategy, and enhance governance and anti-corruption frameworks.
A focus on upgrading national statistics and preparing for future reforms under the Resilience and Sustainability Facility (RSF) is also expected.
“Despite severe headwinds, the DRC’s macroeconomic environment has remained broadly stable,” said IMF Deputy Managing Director Kenji Okamura. “The authorities have demonstrated strong resolve in implementing reforms. Inflation is falling, reserves are rising, and growth is holding steady.”
As the DRC navigates one of its most fragile periods in recent years, the IMF’s financial and policy support underscores an important international vote of confidence in the country’s economic management and post-conflict recovery ambitions.