Republic of Congo: Request for an Extension of the Extended Credit Facility Arrangement-Staff Report
Republic of Congo: Request for an Extension of the Extended Credit Facility Arrangement- Staff Report
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Volume/Issue:
Volume 2025
Issue 024
Publication date: January 2025
ISBN: 9798229000055
$20.00
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Topics covered in this book
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Economics- Macroeconomics , Money and Monetary Policy , Balance of payments need , International reserves , Credit , Inclusive growth
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Summary
The authorities have requested a three-month extension of the Extended Credit Facility (ECF) arrangement set to expire on January 20, 2025. The three-year arrangement was approved by the Executive Board on January 21, 2022, with access of SDR 324.0 million (200 percent of quota).
The extension seeks to allow sufficient time to complete the sixth (and final) review. The additional time needed would allow: (i) the authorities to complete remaining reforms; (ii) staff and the authorities to reach understandings on appropriate policies to support the completion of the 6th ECF review for the Republic of Congo, prepare documents and circulate them for Board consideration; and (iii) the Executive Board to discuss the review of regional policies and policy assurances for CEMAC, which is critical for the success of Congo’s Fund-supported program.
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