The evolution of exchange rate fluctuations is a major concern for the President of the Republic Félix Tshisekedi in the Democratic Republic of Congo. This situation has a direct impact on the purchasing power of the population, which has led the government to take urgent measures.
One of these measures is the ban on the payment of public expenditure in cash at the counters of the Central Bank of Congo (BCC). This decision aims to strengthen control over the use of foreign currencies and to limit cash payments, in order to preserve the country’s foreign exchange reserves.
At the same time, the BCC will continue its interventions on the foreign exchange market by making available the foreign currencies taken from the reserves. Foreign exchange transactions carried out by exchange offices will also be supervised by the banking sectors, in order to guarantee their compatibility with their real capacities.
The government also intends to strengthen currency repatriation measures and seeks to facilitate the redemption of some of the currency repatriated by mining sector operators, while ensuring the payment of taxes, duties, fees and royalties in Congolese francs.
These measures are taken as part of a national financial inclusion strategy, which aims to monitor the quality of spending, control the supply and demand of foreign currencies, as well as the supply and demand of the Congolese franc.
The government has noted a great scarcity of foreign currency on the interbank market despite the increase in operating revenues, particularly in the mining sector. It therefore appears necessary to strengthen control and monitoring mechanisms to ensure better currency management and more efficient use of operating revenues.
In conclusion, the situation of exchange rate fluctuations in the Democratic Republic of the Congo remains worrying. The government is implementing measures to limit the use of cash, regulate foreign exchange transactions and strengthen control and monitoring mechanisms. These actions aim to stabilize the exchange rate, preserve the country’s foreign exchange reserves and improve the purchasing power of the population