Democratic Republic of Congo, the world's second-biggest copper producer, completed an International Monetary Fund loan program for the first time in its history, the Washington DC-based lender announced Wednesday.
The IMF said Congo's performance under the 3-year, $1.5 billion program was "generally positive," allowing for a final disbursement of $224.7 million to support the country's foreign reserves.
This achievement is particularly noteworthy given Congo's economic challenges and previous unsuccessful loan programs, forging a path toward potential progress in the nation's efforts to overcome years of conflict and corruption despite ongoing risks from armed conflicts and inflationary pressures.
