International Monetary Fund officials who visited the Democratic Republic of Congo (DRC) late last year have been accused of corruption and abuse of privileges.
According to sources, the officials were feted and treated to the bustle of nightlife in Kinshasa so that they could produce a favorable report that would ultimately give the presidency of Felix Tshisekedi a favorable outlook.
The officials disclosed that a delegation from the International Monetary Fund (IMF) was given a rare treat when it visited Kinshasa.
“They received gifts in cash, materials and other goodies. It included women and some plush nights out. Kinshasa is very active at night and people get confused with the life. These IMF officials were really mesmerized,” the source said.
The officials, after the feting, went on to determine that despite multiple shocks, economic activity has proven resilient in the DRC and was supported by higher-than-envisaged mining production.
IMF concluded that the growth of the DRC was forecasted at 6.6 per cent in 2022, but inflation exceeded 12 percent by the end of 2022.
Based on the prediction of the Executive Board, IMF allowed an immediate disbursement of an estimated US$203 million to the Democratic Republic of the Congo to help reinforce international reserves in view of downside risks to the domestic and global economy outlook.
“The leadership of President Tshisekedi does not respect the budget; officials are abusing national resources but receiving more funds which they will abuse,” the source says.
The DRC is heading to the polls on December 20, 2023 and the leadership of President Tshisekedi is desperate to win at all cost.
“In Kinshasa, they have done everything they can to paint a picture that they are friendly to the western world. This is why they have escorts (high end prostitutes) for every delegation that visits us. And that is how they dealt with the IMF team. You will see a lot of these escorts surround the officials who visit,” the source explained.
An economist at the University of Kinshasa says the IMF report on the Democratic Republic of Congo in 2022 did not represent the reality of what was obtaining in the country.
The economist, who spoke on condition of anonymity for fear of victimization, says there was no way the Democratic Republic of Congo would be considered to have a growing economy when the dynamics are pointing the opposite direction.
Issues of fiscal discipline, reckless government expenditure and failure to respect the budget in addition to corruption and mismanagement of national affairs has created chaos for the Democratic Republic of Congo.
“The President has undertaken numerous trips in the last four years with those tracking these trips saying he has been out of the country 200 times; each of these trips costs about $2.5 million for the treasury.
“It’s too costly and putting pressure on the economy because when the President travels, he goes out with 300 people plus and they charter two airbus planes. This type of expenditure can’t give a country a positive IMF outlook,” the economist said.
According to the World Bank, the Democratic Republic of Congo is one of the 10 poorest countries in the World with 63.90% of its population living below two dollars a day.
