DRC economy remains highly vulnerable to shocks - IMF

The Democratic Republic of Congo (DRC) continues to face significant vulnerability to external shocks, as highlighted by the International Monetary Fund (IMF). In a recent interview with CNBC Africa, Gabriel Leost, the IMF Resident Representative in DRC, discussed the key challenges and opportunities facing the country's economy. Leost pointed out that while there has been progress in various areas such as fiscal reforms, mining transparency, and efforts to promote a better business environment, the DRC remains exposed to risks stemming from global economic uncertainties. One of the main concerns is the reliance on the mining sector, which accounts for a substantial portion of the country's GDP and exports. With the volatility in international commodity prices, there is a pressing need to diversify the economy to reduce dependence on a single sector. Leost emphasized the importance of expanding into other industries, such as agriculture and labor-intensive activities, to drive sustainable growth and alleviate poverty.