About: http://data.cimple.eu/news-article/52ed974996ebe37e90afd6007050adb99ea4e2c641cf4a41e2b2c74a

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About: http://data.cimple.eu/news-article/52ed974996ebe37e90afd6007050adb99ea4e2c641cf4a41e2b2c74a Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	The IMF voiced concern Wednesday over DR Congo's 2020 budget and urged its central bank to stop drawing down foreign currency reserves and advancing money to the government. In late December, the International Monetary Fund granted $368 million in credit to the Democratic Republic of Congo to deal with urgent balance-of-payments problems. That same month, the country's draft 2020 budget was estimated to be the equivalent of $10.59 billion, for a nation of around 80 million, of whom two-thirds live on less than $2 per day. On Wednesday, IMF staff, after a fact-finding mission, issued a statement expressing "concerns arising from spending pressures and lackluster revenue, which have resulted in renewed central bank advances to the government and erosion of its foreign reserves." The "mission stressed the need to put immediately a stop to central bank advances and repay those given," it said. The fund did welome a "Treasury Plan" published by the finance ministry, which it considered "consistent with realistic revenue projections." A plan issued by the ministry on February 17 allocates only $5.45 billion in spending for 2020 -- just over half the original budget plan. In his 2020 budget, President Felix Tshisekedi said he wanted to include funds to provide free primary education, a flagship and highly popular programme. DR Congo sits on top of large reserves of cobalt, copper, gold and other valuable minerals, but is nonetheless one of the world's poorest countries, with average per capita revenue of $490 according to World Bank data. Tshisekedi took office in January 2019, succeeding President Joseph Kabila, who stepped down after 18 iron-fisted years at the helm. He has vowed to step up the fight against poverty and graft, but his room for manoeuvre has been crimped by a volatile commodities market and a legislature dominated by Kabila supporters. st/wai/ri
schema:headline	IMF urges DR Congo to cut budget, halt central bank loans
schema:mentions	Foreign-exchange reserves Erosion Dominican Republic Cobalt Joseph Kabila Félix Tshisekedi Flagship Conscription in the United States Copper Democratic Republic of the Congo International Monetary Fund World Bank Currency Poverty President of the United States Lackluster
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-02-26 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	82 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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