Stop the depreciation of the currency: Strong measures taken by the Congolese government
The head of government in the Democratic Republic of Congo (DRC), Jean-Michel Sama Lukonde, recently gave clear instructions to stop the depreciation of the national currency on the foreign exchange market. This decision was taken during a restricted meeting of economic conditions at the Primature.
Faced with the global economic crisis which does not only affect the DRC, the government has decided to act quickly to reverse the trend. Budget Minister Aimé Boji pointed out that several countries in the world and in the region are faced with this phenomenon of unstable exchange rates.
In order to eradicate this galloping inflation, the Prime Minister has issued several instructions and measures to be implemented on the foreign exchange market. First, he asked for the daily publication of the official and parallel exchange rate in the media by the Central Bank of Congo (BCC). Moreover, he insisted on the need for exchange offices to display the rate inside their premises in order to facilitate access to this information for the public.
In the coming weeks, it is also planned to publish the correct key rate of the BCC, which was recently raised. This measure aims to reduce demand and absorb liquidity in the foreign exchange market, thus contributing to the stability of the local currency.
The Minister of Budget also indicated that the Central Bank will continue to use all the other instruments available to fight against this crisis and ensure the stability of the Congolese currency.
This strong position taken by the Congolese government in favor of economic and monetary stability is a positive signal for the country’s economic players. It shows the will of the government to face the economic challenges and to work for the prosperity of the DRC.
It is now essential to closely monitor the development of the situation and the measures put in place by the government to halt the depreciation of the currency. Economic stability is a key factor for the country’s development and for attracting foreign investment.
In conclusion, this decision by the Congolese government to stop the depreciation of the currency is an important step in the search for economic stability in the country. We hope that the measures put in place will bear fruit and contribute to improving the financial situation in the DRC