The latest economic news from August 9, 2023 draws our attention to the decision of the Central Bank of Congo to raise its key rate to 25%. This measure aims to tighten monetary policy in order to deal with the internal and external economic shocks facing the Congolese economy. According to the Monetary Policy Committee, this decision will help neutralize the excess liquidity in circulation and support macroeconomic stability.
In the global economic context, the World Bank stresses in its latest update that the global economy is on the way to recovery, but that many challenges persist. Although the COVID-19 health crisis is over and supply chains are back to normal, economic growth continues to face challenges. Energy and food prices have come down after peaking due to the war, which has helped ease inflationary pressures.
Alongside this economic news, other current topics are also covered. We can note the paralysis of activities in the central market of Bunia, the rehabilitation of the Bapere bridge in Beni welcomed by civil society, a report on the second-hand clothes trade in Butembo and an interview with François Kambale, provincial director of ONAPAC, the National Office of Agricultural Products of Congo. The latter evokes the efforts made to encourage the local consumption of coffee produced in South Kivu.
In conclusion, the economic news of August 9, 2023 highlights the decision of the Central Bank of Congo to raise its key rate, as well as the uncertain outlook for the world economy. This information reflects efforts to maintain economic stability amid internal and external challenges. The other current topics underline the importance of local development and promotion of local products. It remains to follow the evolution of these economic and social situations in the coming months