WASHINGTON (Reuters) – The International Monetary Fund said its executive board on Thursday approved a $212.3 million disbursement to the Democratic Republic of Congo after completing the first review of the central African country’s $1.5 billion loan program.
The IMF said it also revised its economic growth forecasts upward for Congo to 5.4% for 2021 and 6.2% for 2022, supported by higher-than-expected mining production and a rebound in other growth.
The Fund said the disbursement from the Extended Credit Facility would help Congo meet balance of payments needs and financing for its response to the COVID-19 pandemic.
(Reporting by David Lawder, Editing by Rosalba O’Brien)
