The economic context of the Democratic Republic of Congo (DRC) is currently a matter of serious concern and requires bold and coherent measures from the authorities. The DRC government has taken the decision to limit cash transactions to USD 10,000, a measure aimed at countering growing speculation on the foreign exchange market and combating mafia networks operating in the parallel market.
This decision, announced by Prime Minister Judith Suminwa Tuluka, follows an economic situation meeting that highlighted the challenges of stabilizing the Congolese Franc and striking a balance between attracting private investors and maximizing public revenues. The current situation is marked by a high inflation rate of around 21% and a continued depreciation of the national currency, factors that directly impact the purchasing power of Congolese households.
Faced with these economic challenges, the Government of the DRC is mobilizing to implement bold fiscal and monetary measures to control inflation, stabilize the national currency, and counter illegal practices that fuel mafia networks. Coordination between the government and the Central Bank of Congo is essential to achieve these ambitious goals.
The Congolese authorities are aware of the need to act quickly and effectively to stem inflation, strengthen banking supervision, and stabilize the country’s economy. Recent discussions with the International Monetary Fund (IMF) have enabled the DRC to benefit from immediate financial support to support its balance of payments, underscoring the government’s commitment to maintain a prudent macroeconomic policy despite the persistent security challenges in the east of the country.
It is imperative that the government continue its efforts to ensure sustainable economic prosperity and ensure the well-being of its citizens. Combating speculation, implementing economic stabilization measures and promoting transparent and effective governance are key elements in addressing current economic challenges and ensuring a prosperous future for the DRC.