April 23, 2020 / 6:32 AM / a month ago

IMF approves $363 mln to help Congo fight coronavirus - statement

JOHANNESBURG, April 23 (Reuters) - The International Monetary Fund’s (IMF) Executive Board has approved a disbursement of $363 million under its Rapid Credit Facility to help Democratic Republic of Congo confront the impact of the COVID-19 pandemic, the Fund said.

“Congo is experiencing a severe shock as a result of the COVID-19 pandemic,” the IMF wrote in a statement late on Wednesday. “The short-term economic outlook has deteriorated quickly due to the fall of minerals’ prices and the impact of needed containment and mitigation measures.” (Reporting by Joe Bavier; Editing by Toby Chopra)

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