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Washington
– The International Monetary Fund (IMF) announced on Wednesday emergency aid from
$ 363 million to combat the new coronavirus in the Democratic Republic of the Congo,
an African nation that had also been fighting Ebola and militia attacks.
“The DRC is experiencing a
severe shock as a result of the Covid-19 pandemic, “said an IMF statement.
“The short-term economic outlook has deteriorated rapidly due to the drop
of mineral prices and the impact of necessary containment and mitigation
measurements “.
Mineral
Exports, particularly to China, are the main income of the impoverished country
source.
The IMF approved a disbursement
under the fast line of credit equivalent to approximately $ 363 million to help
DRC meets urgent balance of payments needs stemming from the pandemic.
Additional support from others
Development partners are expected to close the remaining gap and ease the budget
financing needs, said the Washington-based IMF.
He said that the DRC authorities made a
firm response to the pandemic, including an increase in health-related spending,
but the mobilization of internal revenue has suffered and the foreign exchange reserves
they have been under pressure, while the central bank announced liquidity support.
The DRC has registered at least 21
killed by Covid-19 from more than 250 cases since March 10, almost all in
Kinshasa
Last Friday, the IMF and the world
Bank warned that Africa needs tens of billions of dollars in additional money
to fight the coronavirus pandemic despite debt freeze and massive pledges of support.
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