IMF Reports DRC Structural Reforms Met but Remain Fragile

Kinshasa, February 9, 2026 - The International Monetary Fund (IMF) has presented a generally positive assessment of the Democratic Republic of Congo’s structural reforms, following the second review of the program supported under the Extended Credit Facility (ECF). The report notes that the majority of structural benchmarks were met on schedule, with seven out of eight benchmarks achieved on time, and the remaining one completed with a slight delay. Additionally, three ongoing benchmarks were also fulfilled. Key advances highlighted by the IMF include: Strengthening the expenditure chain Progressive decentralization of budget allocation Implementation of instruments to improve monetary policy transmission Enhanced revenue forecasting from the extractive sector However, the IMF notes persistent institutional weaknesses and legislative delays, particularly regarding the standardized VAT invoicing system, which was not fully adopted by the planned date despite significant progress. The report warns that while administrative and executive decisions have accelerated reform, this reliance creates institutional fragility in the absence of a stronger legislative framework. It emphasizes the need to: Sustainably strengthen public financial management Limit emergency procedures Improve control and traceability of public expenditures The IMF concludes that progress on structural reforms is real and significant, supporting the credibility of the program, but stresses that reforms must be consolidated institutionally to ensure long-term sustainability.

Faits rapportés

Kinshasa, February 9, 2026 - The International Monetary Fund (IMF) has presented a generally positive assessment of the Democratic Republic of Congo’s structural reforms, following the second review of the program supported under the Extended Credit Facility (ECF). The report notes that the majority of structural benchmarks were met on schedule, with seven out of eight benchmarks achieved on time, and the remaining one completed with a slight delay. Additionally, three ongoing benchmarks were also fulfilled. Key advances highlighted by the IMF include: Strengthening the expenditure chain Progressive decentralization of budget allocation Implementation of instruments to improve monetary policy transmission Enhanced revenue forecasting from the extractive sector However, the IMF notes persistent institutional weaknesses and legislative delays, particularly regarding the standardized VAT invoicing system, which was not fully adopted by the planned date despite significant progress. The report warns that while administrative and executive decisions have accelerated reform, this reliance creates institutional fragility in the absence of a stronger legislative framework. It emphasizes the need to: Sustainably strengthen public financial management Limit emergency procedures Improve control and traceability of public expenditures The IMF concludes that progress on structural reforms is real and significant, supporting the credibility of the program, but stresses that reforms must be consolidated institutionally to ensure long-term sustainability.