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Congo, Democratic Republic of - Joint World Bank-IMF Debt Sustainability Analysis (English)

DRC’s debt is assessed to remain sustainable with a moderate risk of debt distress under the COVID-19 pandemic shock although its debt-carrying capacity remains weak. The new baseline in this Staff Report is shown as a stress test in the figures and tables herein, together with the scenarios of the previous Debt Sustainability Analysis (DSA) of December 2019. The main channels through which the pandemic affects DRC’s economy are through lower commodity prices, and supply and demand disruptions in the local economy. The larger current account deficit and especially the less favorable fiscal position in the new baseline give rise to larger financing needs. Still, typical debt and debt-service ratios remain within reasonable bounds as the shock is not as extreme as the standard exports shock. The shock reflects currently available information. Given the rapidly evolving nature of the COVID-19 crisis, risks are heavily tilted to the downside.

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Congo, Democratic Republic of - Joint World Bank-IMF Debt Sustainability Analysis (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/537681592860415761/Congo-Democratic-Republic-of-Joint-World-Bank-IMF-Debt-Sustainability-Analysis