刚果民主共和国：扩大信贷安排下的第二次审查、豁免不遵守绩效标准的请求、修改定量绩效标准和融资保证审查；以及《韧性和可持续性设施安排》下的首次审查和《无障碍新闻稿重新排序请求》（英）

SECOND REVIEW UNDER THE EXTENDED CREDITFACILITY ARRANGEMENT, REQUESTS FOR A WAIVEROF NONOBSERVANCE OF A PERFORMANCECRITERION, MODIFICATION OF QUANTITATIVEPERFORMANCE CRITERIA, AND FINANCINGASSURANCES REVIEW; AND FIRST REVIEW UNDERTHE RESILIENCE AND SUSTAINABILITY FACILITYARRANGEMENT AND REQUEST FOR REPHASING OFACCESS—PRESS RELEASE; STAFF REPORT;ANDSTATEMENT BY THE EXECUTIVE DIRECTOR FORTHEDEMOCRATIC REPUBLIC OFTHECONGO January2026 InthecontextoftheSecond Review Under the Extended Credit FacilityArrangement, Requests for a Waiver of Nonobservance of a Performance Criterion,Modification of Quantitative Performance Criteria, and Financing Assurances Review;and First Review Under the Resilience and Sustainability Facility Arrangement andRequest forRephasing of Access, the following documents have been releasedand are included in this package: •APressReleaseincludinga statementby theChair oftheExecutiveBoard. •TheStaff Reportprepared by a staff team of the IMF for the Executive Board’sconsideration onDecember 19, 2025, following discussions that ended onNovember 5, 2025, with the officials ofthe Democratic Republic oftheCongooneconomic developments and policies underpinning the IMF arrangementsunderthe Extended Credit Facilityand the Resilience and Sustainability Facility. Based oninformationavailableatthetimeofthesediscussions,thestaffreportwascompleted onDecember 5, 2025. •AWorld Bank Assessment Letterfor the Resilience and Sustainability Facility. •AStatementbytheExecutiveDirectorforthe Democratic Republic oftheCongo. TheIMF’s transparency policy allows for the deletion of market-sensitive information andpremature disclosure of the authorities’ policy intentions in published staff reports andother documents. Copies of this report are available to the public fromInternational Monetary Fund•Publication ServicesPO Box 92780•Washington, D.C. 20090Telephone: (202) 623-7430•Fax: (202) 623-7201E-mail:publications@imf.org Web:http://www.imf.org International Monetary FundWashington, D.C. IMF Executive Board Completes the Second Review under theExtended Credit Facility Arrangement and the First Reviewunder the Resilience and Sustainability Facility Arrangementfor the Democratic Republic of the Congo FOR IMMEDIATE RELEASE •The IMF Executive Board has completed the second review under the ExtendedCredit Facility arrangement and the first review under the Resilience andSustainability Facility arrangement for the Democratic Republic of the Congo. Thedecision allows for an immediate total disbursement of US$ 442 million. •The DRC’s economy has remained resilient despite the persistence of the armedconflict in the eastern part of the country, which continues to exert significant pressureon public finances. •The authorities have kept momentum on structural reforms, and all but oneperformance criteria were met. Looking ahead, sustained fiscal discipline, strongercoordination between fiscal and monetary policies, and accelerated structural reformsremain critical. Washington, DC–December 19, 2025:The Executive Board of the International MonetaryFund (IMF) completed the second review under the Extended Credit Facility (ECF)Arrangement and the first review under the Resilience and Sustainability Facility (RSF)Arrangement for the Democratic Republic of the Congo (DRC), both approved on January 15,2025 (see PR 25/003). The completion of the second review of the ECF-supported programallowed for a disbursement equivalent to 190.4 million SDR (approximately US$ 260.0 million),bringing the aggregate disbursement to date to 570.9 million SDR (about US$ 779.7 million).The completion of the first review of the RSF allowed for a disbursement of 133.25 millionSDR (approximately US$ 182.0 million). The security situation in the eastern DRC remains challenging, despite the recent presidential-level endorsement of the U.S.-brokered peace accord between the DRC and Rwanda and thesigning of a Qatar-mediated “Framework for a Comprehensive Peace Agreement” betweenthe DRC government and the M23 rebel group. The renewed violence has further deepenedthe humanitarian crisis. Economic activity has proven resilient amid these challenges. Real GDP growth is projected toexceed 5percent in 2025 and 2026, driven by the continued dynamism of the extractivesector. External stability has strengthened, on the back of high copper exports and prices,notwithstanding the temporary suspension of cobalt exports for most of 2025. The resultingimprovement in the current account balance enabled continued reserve accumulation, thoughreserves remain below the recommended adequacy level. Inflation fell sharply, from 11.7percent at end-2024 to 2.2 percent in November 2025, as monetary policy remains tight, in thecontext of a sharp appreciation of the Congolese franc. Against this backdrop of declining inflation and rising real interest rates, the Central Bank of the Congo (BCC)’s Monetary PolicyCommittee has reduced the policy rate from 25 percent to 17.5