Congo inflation seen reaching 47 pct by end '09 -IMF

KINSHASA, Nov 10 (Reuters) - Democratic Republic of Congo's year-end inflation rate is expected to touch as high as 47 percent, nearly double a previous target, the International Monetary Fund (IMF) said on Tuesday.

The hike in inflation has been caused by a flood of emergency funding from foreign donors trying to fill the gap left by plummeting mining revenues, Brian Ames, a division chief in the IMF's Africa Department, told reporters.

"With the depreciation of the exchange rate and the rise in inflation, the 2009 targets will not be met. Now, because of the acceleration in August, the provision for the end of the year is 45 to 47 percent," Ames said, adding the initial target had been 25 percent. (Reporting by Joe Bavier; Writing by David Lewis)