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This paper examines the political and social situation in the DRC since May 1997, together with the prospects for a successful political and social transition. Consistent with the deepest aspirations of the Congolese population, such a transition will succeed if it involves an irreversible development towards multiparty democracy and the full utilisation of the country's immense resources for economic and social development. In other words, a successful transition is one in which basic freedoms and liberties will be guaranteed through democratic governance and the rule of law, with tangible improvements in living conditions. ; 2nd, revised ed. -- CONTENTS -- THE HISTORICAL CONTEXT -- The Legacy of Authoritarianism -- The Impact of the National Conference -- The Informalisation of the Economy -- FROM MOTUTU SESE SEKO TO LAURENT-DÉSIRÉ KABILA -- The Seven-Month War to Overthrow the Mobutu Regime -- A New Dictator for the Congo -- The War for Congo's Natural Resources -- THE NEED FOR A SUCCESSFUL TRANSITION -- Managing the Political Transition -- Economic and Social Reconstruction Implications for the Great Lakes Region

This paper examines the political and social situation in the DRC since May 1997, together with the prospects for a successful political and social transition. Consistent with the deepest aspirations of the Congolese population, such a transition will succeed if it involves an irreversible development towards multiparty democracy and the full utilisation of the country's immense resources for economic and social development. In other words, a successful transition is one in which basic freedoms and liberties will be guaranteed through democratic governance and the rule of law, with tangible improvements in living conditions.

Cover -- CONTENTS -- CONTEXT -- MAIN ECONOMIC DEVELOPMENTS -- OUTLOOK AND RISKS -- POLICIES AND REFORMS -- A. Increasing Fiscal Space and Budget Credibility -- B. Monetary and Exchange Rate Policies -- C. Financial Sector Policies -- D. Business Environment, Governance, and Corruption -- E. Other Issues -- STAFF APPRAISAL -- BOXES -- 1. Democratic Republic of the Congo: Fragility -- 2. Mining Sector in the Democratic Republic of the Congo -- FIGURES -- 1. External Indicators, 2014-2018 -- 2. Real and Fiscal Indicators, 2014-18 -- 3. Monetary and Financial Indicators, 2014-18 -- TABLES -- 1. Selected Economic and Financial Indicators, 2016-24 -- 2b. Central Government Financial Operations 2016-24 (Percent of GDP) -- 3. Monetary Survey, 2016-24 -- 4a. Balance of Payments, 2016-24 (Millions of U.S. dollars) -- 4b. Balance of Payments, 2016-24 (Billions of CDF) -- 5. Financial Soundness Indicators, 2014-2019 -- ANNEXES -- I. External Sector Assessment -- II. Capacity Development Strategy -- III. Risk Assessment Matrix -- IV. Democratic Republic of the Congo: Status of Past Article IV Recommendations -- CONTENTS -- RELATIONS WITH THE IMF -- RELATIONS WITH OTHER FINANCIAL INSTITUTIONS -- STATISTICAL ISSUES.