Will the Democratic Republic of Congo succeed in securing the $ 1.5 billion International Monetary Fund funding program for which a preliminary agreement was signed in May last year? The stakes are high, as this program could pave the way for other funding. But the signing comes with conditions, and when the IMF board meeting wakes up, the details are still stuck.
With our special correspondent in Kinshasa, Sonia Rolley
One of the last conditions that remained to be met to receive this financing program from the IMF was to bring the central bank’s board in line with the law from 2018. On paper, Congo has done more than expected. Not only did she renew the board, she appointed two deputy governors and even a new governor, the IMF’s chief of staff in Burkina. The IMF’s demands did not go that far.
The problem is that in the law on reform of the central bank from 2018, there are many conditions for the appointment of the management team. But among the new directors are two members of Félix Tshisekedi’s cabinet: Prince Leta Katumbi and Andre Wameso. Andre Wameso is even the president’s deputy chief of staff.
One of the goals of the 2018 reform was to strengthen the central bank’s independence. The situation is therefore a problem for the IMF, which demands that the two disputed administrators resign as soon as possible. These departures should take place in the next few hours to enable the holding of the board of the International Monetary Fund this week and the validation of the program.
On the part of the Congolese authorities, we assure you that this is not a problem, that President Tshisekedi’s intention is clear and that everything will be done to enable this signature.
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