Stabilization of the exchange rate on the market: a priority for the Democratic Republic of the Congo
The instability of the exchange rate in the Congolese market is a major concern for the government of the Democratic Republic of the Congo. Faced with this situation, President Félix Tshisekedi has decided to take measures to remedy this problem which affects the country’s economy.
During the meeting of the Council of Ministers on July 21, the Head of State instructed the government, the Central Bank of Congo (BCC) and the General Inspectorate of Finance (IGF) to work together in order to apply measures aimed at regulating the exchange rate on the market. This decision bears witness to President Tshisekedi’s commitment to resolving this problem, which affects the country’s economic stability.
One of the recommendations of economic experts to stabilize the exchange rate is to ask mining operators to repatriate part of their income in foreign currency. According to the BCC’s foreign exchange legislation, mining operators are required to repatriate 40% of the sales of their minerals in foreign currency. This measure aims to stabilize the local currency in the foreign exchange market and reduce the instability of the exchange rate.
The disparity in the exchange rate in the Democratic Republic of the Congo is explained by the law of supply and demand. As the country has opted for a free exchange market, the exchange rate varies according to currency transactions. However, this freedom can lead to significant fluctuations and instability in the exchange rate.
It is therefore essential to put in place effective measures to regulate the exchange rate and ensure the country’s economic stability. The collaboration between the government, the BCC and the IGF will make it possible to monitor and strictly apply the measures necessary to achieve this objective.
In conclusion, the stability of the exchange rate on the Congolese market remains a major issue for the Democratic Republic of Congo. President Félix Tshisekedi has made this issue a priority, instructing the government, the BCC and the IGF to apply measures aimed at regulating the exchange rate. This approach aims to ensure the economic stability of the country and to foster an environment conducive to development.