one year later, the positive outcome of the agreement with the IMF

In the Democratic Republic of Congo (DRC), one year after the conclusion of a three-year program of the International Monetary Fund (IMF), is placed in the balance sheet. The progress of the program is judged to be satisfactory by the IMF, with most of the conditions respected and the progress of the reform program. But some key sectors still worry the IMF.

This $ 1.5 billion program aims to maintain macroeconomic stability. It revolves around scaling up domestic income mobilization to increase the fiscal space for infrastructure and social spending, strengthen governance and strengthen the monetary policy framework.

The IMF welcomes the progress made in income mobilization. These successes are due in particular to the performance of the mining sector and the improved collection by financial authorities.

However, the financial institution believes that the country can do better. It insists on strengthening the computerization of the revenue chain and on improving the functioning of the finance departments.

Also in this chapter, the government wants to show its determination and intensify the measures, especially in the extractive industry. For example, with regard to the mobilization of super profits from mining companies, the Minister of Finance announced that the Directorate-General for Taxation (DGI) has been commissioned to prosecute taxpayers who are not in a good position. 11 companies are thus followed particularly closely.

The second project concerns expenses, for which much work remains. In almost all of its reports, the IMF encourages the state to direct funds to the most useful expenditures for the population, such as expenditures on health, education and investment in key infrastructure.

Therefore, the financial institution proposes the government to reform the system of subsidies for fuel prices. For the month of June alone, the government paid the oil companies $ 58.2 million.

Read also: The IMF approves the payment of about 203 million dollars to the DRC

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