Exchange rate instability in the Democratic Republic of Congo (DRC) is a major concern for the country’s economy. During the meeting of the Council of Ministers held on July 21, President Félix Tshisekedi expressed his desire to find a solution to this situation. He thus decided to mobilize the General Inspectorate of Finance (IGF) to work in collaboration with the government and the Central Bank of Congo (BCC) in order to regulate the exchange rate on the market.
This decision comes after recommendations made by economic experts, who suggested that mining operators repatriate 40% of the sale of their minerals in foreign currency. This measure, in accordance with BCC legislation, aims to stabilize the local currency on the foreign exchange market.
It is important to understand that this instability of the exchange rate is due to the law of supply and demand. The DRC has opted for a free exchange market, which means that the exchange rate fluctuates according to currency transactions. However, this situation can lead to economic imbalances and negative consequences for the Congolese population.
In order to solve this problem, it is essential to put in place effective regulatory measures. The involvement of the IGF, the government and the BCC is a step in the right direction to ensure exchange rate stability and foster sustainable economic development in the DRC.
It is also crucial to raise awareness among economic actors, particularly mining operators, of the importance of repatriating their income in foreign currency. This would strengthen confidence in the Congolese financial system and encourage foreign investment.
In conclusion, the issue of exchange rate instability in the DRC is a major challenge for the country’s economy. However, with the political will displayed by President Félix Tshisekedi and the involvement of the IGF, the government and the BCC, adequate measures can be taken to regulate the exchange rate and promote sustainable economic growth