Democratic Republic of the Congo: Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Requests for Waiver of Performance Criteria and Additional Interim Assistance Under the Enhanced Initiative for Heavily I

Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Requests for Waiver of Performance Criteria and Additional Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries

Author: International Monetary Fund

Volume/Issue: Volume 2004 Issue 243

Publication date: August 2004

ISBN: 9781451808353

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Topics covered in this book

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Exports and Imports , Money and Monetary Policy , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , Congo , expenditure side , PRGF loan , PRGF arrangement , staff appraisal , PRGF-supported program , Congolese authorities , Debt relief , Debt service , Poverty reduction strategy , Arrears , Sub-Saharan Africa

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Summary

This paper discusses Congo’s Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), and Requests for Waiver of Performance Criteria. Overall performance under the program was satisfactory and at end-March 2004, 8 out of the 11 quantitative performance criteria were observed. The structural performance criterion was met. Economic growth has been higher than envisaged, and inflation has decelerated more rapidly than programmed. As expected, the end-2003, fiscal objectives were missed by less than 1 percent of GDP.