The International Monetary Fund (IMF) on Friday commended the DRC government’s interim programme of “bold and front-loaded adjustment measures, aiming principally at breaking hyperinflation, stabilising the economy, laying the foundations for a restoration of growth and reconstruction, and reducing poverty”. In a summary of its assessment of the DRC economy, the IMF’s executive board acknowledged the “gravity of the DRC’s situation”. It said this was characterised by a vicious circle of hyperinflation, currency depreciation, falling production and deteriorating infrastructure, as well as widespread poverty and an alarming spread of epidemics, such as HIV/AIDS. The IMF directors urged the government of President Joseph Kabila to adhere to its current programme for economic recovery, the successful implementation of which “calls for a transparent legal and regulatory environment, as well as economic security and good governance”. [For the complete IMF report, go to http://www.imf.org/external/np/sec/pn/2001/pn0170.htm]
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