IMF approves $363 million to help Congo fight coronavirus

IMF approves $363 million to help Congo fight coronavirus
  • Clock-gray 13:42
  • calendar-gray 23 April 2020

The International Monetary Fund’s (IMF) Executive Board has approved a disbursement of $363 million under its Rapid Credit Facility to help Democratic Republic of Congo confront the impact of the COVID-19 pandemic, the Fund said, APA reports citing Reuters.

“Congo is experiencing a severe shock as a result of the COVID-19 pandemic,” the IMF wrote in a statement late on Wednesday. “The short-term economic outlook has deteriorated quickly due to the fall of minerals’ prices and the impact of needed containment and mitigation measures.”

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