Exchange rate instability is a major issue in the Democratic Republic of Congo. During the recent meeting of the Council of Ministers, President Félix Tshisekedi expressed his concern over this situation which is impacting the country’s economy.
In order to find an effective solution, the Head of State has decided to mobilize the General Inspectorate of Finance (IGF) to work in collaboration with the government and the Central Bank of Congo (BCC). The objective is to put in place strict measures aimed at regulating the exchange rate on the market.
This desire for regulation echoes the recommendations of economic experts who have suggested that mining operators repatriate 40% of the sale of their minerals in foreign currency in accordance with the BCC’s foreign exchange legislation. This measure aims to stabilize the local currency on the foreign exchange market.
The disparity in the exchange rate is partly explained by the law of supply and demand. As the DRC has opted for a free exchange market, the exchange rate fluctuates according to currency transactions. However, this situation can lead to economic instability and adverse consequences for the country.
The Congolese government is therefore taking steps to reduce this instability. By mobilizing the IGF, the government hopes to put in place effective measures to regulate the exchange rate and promote economic stability.
This initiative by President Tshisekedi demonstrates his desire to find concrete solutions to improve the country’s economic situation. By working in close collaboration with the BCC and the IGF, the Congolese government hopes to provide appropriate responses to this major challenge.
It is essential to put in place effective measures to regulate the exchange rate and promote economic stability in the Democratic Republic of the Congo. This will help boost investor confidence and create an enabling environment for the country’s economic development