• The IMF approved a $261.9 million disbursement under DR Congo’s credit program
• Economic growth hit 6.5% in 2024, driven by the extractive sector
• Rising security spending pushed the 2024 budget deficit beyond targets

The International Monetary Fund (IMF) has approved the first review of its credit program for the Democratic Republic of Congo (DRC), paving the way for an immediate disbursement of $261.9 million, the institution announced on Wednesday, July 2, 2025.

The funds, provided under the Extended Credit Facility (ECF) approved on January 15, 2025, aim to bolster the country’s international reserves and provide greater flexibility to cope with external shocks. With this new disbursement, total funds released to the DRC under the program now exceed $523 million.

The IMF granted approval based on the DRC’s economic resilience, reform progress, and the government’s commitment to further improvements. Despite ongoing armed conflict in eastern DRC since late 2024, the economy remained strong, with GDP growth reaching 6.5% in 2024, mainly driven by the mining sector.

The country also strengthened its external position by reducing the current account deficit and increasing international reserves. Inflation fell to 8.5% in June 2025, down from 23.8% at the end of 2023, marking the first single-digit inflation figure in three years, helped by tight monetary policies from the Central Bank of Congo.

However, the IMF noted that some program targets were missed, including the budget deficit goal. The domestic fiscal deficit reached 0.8% of GDP in 2024, above the target of 0.3%, due to exceptional spending on security and public investment.

The program target for foreign currency assets held by resident banks was also missed, driven by higher-than-expected tax payments in foreign currency deposited in government accounts. The IMF granted waivers for these deviations, citing corrective measures and their temporary nature.

On the political front, the peace agreement signed between the DRC and Rwanda on June 27, 2025, brokered by the United States, marks a significant development. Although fragile, the IMF believes this agreement could help refocus national efforts on development and macroeconomic stability.

The IMF is urging the DRC to speed up structural reforms, particularly in governance, anti-corruption efforts, fiscal transparency, improving the business environment, and strengthening the framework to combat money laundering and terrorism financing. These steps are essential to maintain macroeconomic stability.