Title: “The Governor of the Central Bank of Congo takes stock of the country’s economic situation”
Introduction :
During the 103rd meeting of the Council of Ministers, the governor of the Central Bank of Congo, Malangu Kabedi Mbuyi, presented an inventory of the country’s economic situation. Despite some tensions in the goods and services market, the Congolese economy has remained stable overall. In this article, we review the main information shared by the Governor and the measures taken to support the national economy.
The economic context:
According to the minutes of the meeting, inflation is slightly up, reaching 0.59% at the end of June 2023. This increase is explained in particular by the evolution of prices in key sectors such as food, housing and energy products. Furthermore, the exchange rate has also depreciated compared to the previous week, which may have an impact on prices and the economic stability of the country.
Measures taken by the Central Bank of Congo:
Faced with these economic challenges, the Governor of the Central Bank of Congo announced several measures aimed at stabilizing the situation. First, the central bank’s key rate was raised, as well as the coefficient of the compulsory reserve on the life deposit in Franc Congolais. These decisions are intended to reduce the pressures exerted by excess liquidity on the prices of goods and the exchange rate.
The need to support national production:
The Governor also underlined the importance for the government to continue efforts in favor of national production and to reduce dependence on imports. It is essential to support key sectors of the economy, such as agriculture and industry, in order to boost growth and create jobs. This measure aims to strengthen the resilience of the Congolese economy to external shocks.
The fight against speculation and manipulation of exchange rates:
Finally, the Governor recalled the obligation for all economic players to comply with exchange rate regulations. She insisted on the need to fight against speculation and manipulation, in particular by prohibiting any public display of the exchange rate. This measure aims to guarantee the transparency and stability of the foreign exchange market.
Conclusion :
Despite the economic challenges facing the country, the governor of the Central Bank of Congo wants to be optimistic about the stability of the Congolese economy. The measures taken by the Central Bank aim to support national production, fight against speculation and maintain price stability. It is essential for the government to continue to work towards sustainable and inclusive growth for the benefit of all Congolese