Congo Gets $551 Million After Pressure Put on IMF

17.12.09 The International Monetary Fund (IMF) recently approved a three-year, $551.45 million Special Drawing Rrights arrangement for the Democratic Republic of the Congo. This was practiced under the Poverty Reduction and Growth Facility (PRGF) while additionally another $72.68 million will temporarily be used to reduce Congo’s debt service payments back to the IMF. The IMF stated it believed that the DRC had made important progress in recent years, particularly its move to a democratically eleceted government. They still hold reservations about the country's situation and this pay-out may have been made grudgingly after the various critisicms the organisation has recieved for not using SDRs to help indebted countries more.