IMF Gives ‘Promising’ Economic Outlook for DRC
The International Monetary Fund is giving what it calls a “promising” economic outlook for the Democratic Republic of Congo.
The head of a just-completed IMF mission to Congo, Robert York, projected Monday that the country’s economy will expand 7 percent this year, with inflation in the single digits. He also predicted a drop in the nation’s budget deficit.
In a written statement Monday, York said the DRC economy has been shielded from the European economic crisis largely because of its low-level of participation in the world economy. But he warned that staying on the sidelines could be a significant constraint on Congolese development and its ability to attract investors.
He also recommended reforms in the Congolese mining industry to make it more transparent
Despite a growing economy, most of the DRC population lives in poverty.VOA