Exchange rate instability: a major concern in the DRC
The Democratic Republic of Congo (DRC) faces a major economic challenge: the instability of the exchange rate in the market. This situation worries both the population and the authorities, who are looking for solutions to remedy it.
During the 105th meeting of the Council of Ministers, President Félix Tshisekedi stressed the need to act quickly to regulate the exchange rate. He thus instructed the government, the Central Bank of Congo (BCC) and the General Inspectorate of Finance (IGF) to put in place effective measures to stabilize the local currency.
One of the recommendations made by economic experts is the repatriation in foreign currency of 40% of mineral sales by mining operators. This measure aims to stabilize the foreign exchange market by meeting the demand for foreign currency.
The DRC has opted for a free exchange market, in which the exchange rate is governed by the law of supply and demand. This approach normally allows automatic regulation of the exchange rate according to market fluctuations. However, in the case of the DRC, this has led to excessive volatility, creating difficulties for businesses and citizens.
It is therefore essential to put in place concrete and effective measures to stabilize the exchange rate in the DRC. This requires close collaboration between the government, the BCC, the IGF and the country’s economic actors.
It is also important to examine the root causes of this instability and to develop economic policies that promote long-term stability and growth. This can include measures to strengthen local production, encourage exports and attract foreign investment.
In sum, exchange rate instability in the DRC is a major economic challenge that requires urgent action. By putting in place appropriate measures, the country can aspire to lasting economic stability and create an environment conducive to development and prosperity for all its citizens