Democratic Republic of the Congo: Poverty Reduction and Growth Facility—Request for an Extension

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 229

Publication date: July 2005

ISBN: 9781451808377

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Public Policy - Social Services and Welfare , ISCR , CR , PRGF arrangement , PRGF loan , PRGF-supported program , government , Congolese authorities , extension of the Poverty Reduction and Growth Facility , Poverty reduction strategy , Poverty reduction and development

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Summary

This paper discusses Congo’s Request for an Extension for the Poverty Reduction and Growth Facility (PRGF). The extension will provide additional time for the completion of the fifth review under the PRGF. The review was delayed owing to slippages in the second half of 2004 that had led to a depreciation of the Congo franc and high inflation. As a result, three quantitative performance criteria for end-September 2004 were not met. The IMF staff supports the authorities’ request for an extension of the arrangement through October 31, 2005.