The Democratic Republic of Congo’s Ministry of Finance has initiated a fundraising campaign to secure 200 million US dollars, approximately 550 billion Congolese francs, from the financial market in the second quarter of this year. The Ministry made this announcement through an official press release dated April 26, 2024.
The government aims to raise this capital by issuing Treasury Bills and Treasury Bonds between April 30 and June 25, 2024. The targeted amount will be acquired at a rate of 2,750 Congolese francs for one US dollar on the financial market. This strategy is part of the predetermined schedule for issuing Treasury Bills and Treasury Bonds denominated in US dollars, as approved by the Minister of Finance.
Additionally, the Congolese government plans to raise 300 billion Congolese francs, equivalent to 109 million US dollars, during the same quarter, using the same exchange rate of 2,750 Congolese francs for one American dollar. These financial instruments will have varying maturities spanning from 91 days to 1.5 years.
It’s important to note that acquiring a Treasury Bond effectively means extending a loan to the State by the investors, who then become creditors of the State. These debt securities are fully backed by the Congolese government, making them a secure investment option within the money market.
The fundraising initiative underscores the government’s commitment to securing the necessary financial resources to support the economic growth of the country, enhance its financial stability, and fulfill its budgetary commitments. This proactive approach highlights the prioritization of mobilizing financial resources by the Congolese authorities to address the current economic and social challenges effectively.
For more information, you can access the provided external link to get additional insights into this fundraising campaign.
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