On Wednesday, August 4, 2021, the Minister of Finance, Nicolas Kazadi, held the first meeting of the political troika as a follow up of the economic program supported by the Extended Fund Facility of the International Monetary Fund (IMF). The Minister of State and Minister of Budget, Aimé Boji, the Vice Minister of Finance, O'Neige N'Sele, and the Governor of the Central Bank of Congo (BCC), Malangu Kabedi Mbuyi, were also present at this meeting.
This meeting of the political troika is essentially aimed at acting on the recommendations to guarantee the materialization of the program's criteria and benchmarks. The implementation of the measures planned under this program were therefore examined in detail to enable the Congolese government to be prepared for the next review in September of this year.
For the Governor of the BCC, these measures involve several areas relating to the level of reserves of the BCC, the level of external debt of the DRC, state credits, macroeconomic management as it pertains to revenue collection, but also the measures that affect the government’s economic policies.
In this regard, the Finance Minister, Nicolas KAZADI, organized this working session to encourage the experts of the Ministry of Budget, the Ministry of Finance, as well as those of the Central Bank of Congo (BCC) to work rigorously in order to accurately meet the criteria fixed by this three-year program concluded with the IMF.
According to the Coordinator of the Technical Committee for Monitoring and Evaluation of Reforms (CTR), Mr. Felicien Mulenda Kahenga, the political troika's mission is to monitor the program with the IMF, as this program includes several commitments whose evaluation is done in line with the various reviews set by the parties. At this stage, more than 90% of the commitments made for the first deadline have been respected.
The three institutions that signed the memorandum of the political troika, namely the Ministry of Finance, the Ministry of Budget and the Central Bank of Congo, have no time to spare as the upcoming September review will be a crucial moment in the new economic partnership between the DRC and the IMF, whose ultimate goal to boost the Congolese economy.