President Felix Antoine Tshisekedi welcomes the resumption of DRC-IMF cooperation

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Kinshasa, December 15th, 2021 (CPA) – The President of the Republic, Felix Antoine Tshisekedi Tshilombo welcomed, in his speech on the state of the nation before two chambers of Parliament meeting in Congress, on Monday at the People’s Palace, resumption of cooperation between DRC and the International Monetary Fund (IMF) which « made it possible both to strengthen the capacities of the State and to support productive activities, with a view to the effective revival of economic growth and the eradication of poverty in the country ».

« The resumption of contacts with the International Monetary Fund (IMF) allowed DRC, the signing of an Agreement allowing it to access initially in 2020, the disbursement of 732 million US dollars, under the « Quick credit facility ». This fund has contributed to raising the level of its international reserves, despite the negative impact of the COVID-19 pandemic”, he said, noting that his country had long remained ineligible with various institutions international financial institutions.

The Head of State also indicated that these contacts with the Bretton Woods institutions have facilitated the necessary funding in terms of budgetary support, in order to support the various reforms envisaged.

The President of the Republic then revealed that in addition to the « Rapid Credit Facility », DRC has concluded a three-year Agreement under the « Extended Credit Facility » for an amount of USD 1.5 billion intended to support the  » Medium-term reform program” which aims in particular to maintain macroeconomic stability, increase budgetary room for maneuver and promote sustainable economic growth.

For 2021 fiscal year alone, DRC benefited from commitments of around USD 4.5 billion from its multilateral external partners. This is, he said, a new record in the country’s history.

Support for Congolese youth

In addition, reaffirming that the « Congo of tomorrow will be what we have done with the youth », the President of the Republic recalled, in connection with the internment of young delinquents commonly called « Kuluna » in Kaniama Kasese, in Haut-Lomami province, that this operation aims to put man at the center of any development effort, these idle young people having become necessary for the country today.

Suddenly, he stressed, this internment also takes into account the efforts made to ensure security throughout the country, and the re-education of these young people in the various trades, in particular agriculture, carpentry and breeding.

“I am delighted with the first results obtained by the experience of Kaniama-Kasese Pilot Center. Once left to fend for themselves, today these young compatriots have mastered several trades including masonry, carpentry, agriculture and animal husbandry », President Tshisekedi said.

To this end, he asked the government to step up these efforts to reintegrate unemployed young people into society throughout the country, for their better contribution to the development of the country. ACP /