The DRC has been facing a major economic crisis in recent months, with the collapse of its local currency, the Congolese franc, against foreign currencies, mainly the US dollar. This rapid depreciation has driven up the prices of basic necessities, making life difficult for the vast majority of the population who live on less than US$2 a day. Currently, one dollar is exchanged against approximately 2,500 Fc.
This alarming situation aroused contrasting reactions within the Congolese population. On the one hand, there are those who are crying out for urgent action to resolve this crisis. On the other side, some people see this situation as an opportunity to make profits by accumulating Congolese francs, once they hold dollars.
In response to this crisis, the government took measures to curb the depreciation of the Congolese franc. The Central Bank of Congo decided to increase the key rate from 9% to 11% during a meeting of the Monetary Policy Committee on June 19. In addition, during the Council of Ministers, the Governor of the BCC recalled the ban on publicly displaying exchange rates, in order to better control the activities of exchange offices and manual currency traders.
However, it is important to stress that these measures are not enough to completely resolve the current crisis. Bolder actions and deeper economic reforms will be needed to stabilize the currency and revive the Congolese economy.
It is also crucial to develop other economic sectors apart from commodity exports, in order to diversify the economy and reduce dependence on fluctuations in the global market. Investing in agriculture, manufacturing and creative industries can contribute to stronger and more sustainable economic growth.
In conclusion, the economic crisis in the DRC, marked by the depreciation of the Congolese franc, is a worrying situation that affects the Congolese population. Steps have been taken to control the situation, but deeper reforms will be needed to emerge from this crisis and build a more resilient and prosperous economy.