• DRC secures IMF staff-level deal for $456M under ECF and RSF programs
• $377M to support national budget; $79M to boost foreign reserves
• IMF Board to review in December; budget support to help fund 2026 spending

The Democratic Republic of Congo is nearing a $456 million disbursement from the International Monetary Fund (IMF) under its three-year economic and financial program.

The amount includes $268 million from the Extended Credit Facility (ECF) and $188 million from the Resilience and Sustainability Facility (RSF), according to a source familiar with the matter. Following a mission from Oct. 22 to Nov. 5, 2025, IMF staff and Congolese authorities reached a staff-level agreement on the second review of the ECF and the first review of the RSF, the IMF said in a statement. The agreement marks a key step toward releasing the funds.

The next stages involve review by the IMF’s Management and approval by its Executive Board, scheduled to meet in December 2025. A favorable decision, which typically follows such agreements, would trigger the immediate disbursement. Unlike previous tranches, most of the upcoming funds will be allocated as budget support, transferred directly to the Treasury to support the national budget. An IMF official said $188 million from the RSF and $189 million from the ECF will go toward budget support, totaling $377 million.

The remaining $79 million will be credited to the Central Bank of Congo’s account at the Bank for International Settlements to strengthen the country’s foreign reserves.

The IMF noted that the DRC’s external stability has improved, driven by growing reserves and a narrower current account deficit, though reserves remain below the recommended adequacy level. Persistent insecurity in the eastern provinces and recurring health crises, such as Ebola outbreaks, continue to strain public finances.

For 2026, the DRC projects a budget of 59.02 trillion Congolese francs ($20.3 billion) based on the average exchange rate used for fiscal assumptions. Defense spending will represent nearly 15% of the total, or 7.93 trillion francs ($2.7 billion). The overall budget is up 16.4% from the revised 2025 finance law. To help fund it, the government is relying on external budget support, projected to rise 28.1% to 3.80 trillion francs ($1.3 billion).

Pierre Mukoko, Bankable