The instability of the exchange rate on the financial market is a problem that has caused much ink to flow. Indeed, the incessant fluctuations in the value of the currency have direct consequences on the economy of a country. This is why the Head of State Félix Tshisekedi recently took steps to remedy this situation.
During the meeting of the Council of Ministers on July 21, Félix Tshisekedi instructed the government, the Central Bank of Congo (BCC) and the General Inspectorate of Finance (IGF) to ensure the strict application of measures aimed at regulating the market exchange rate. This decision testifies to the president’s desire to stabilize the local currency and to find a solution to this instability which affects the Congolese.
One of the recommendations made by economic experts to stabilize the exchange rate is the repatriation in foreign currency of 40% of the sale of minerals by mining operators. This measure is in line with the BCC’s foreign exchange legislation and would help balance the flow of currencies on the market.
It is important to underline that the DRC has opted for a free exchange market, which means that the exchange rate is governed by the law of supply and demand. However, this freedom can sometimes lead to significant fluctuations and economic disruption. This is why the implementation of regulatory measures is necessary to maintain the country’s financial stability.
In conclusion, exchange rate instability is a recurrent problem in the financial market in the DRC. President Félix Tshisekedi has taken steps to remedy this by instructing the government, the BCC and the IGF to put in place regulatory measures. These measures, such as the repatriation of foreign currency by mining operators, aim to stabilize the local currency and ensure a healthier financial situation for the country. It now remains to be seen how these measures will be applied and what impact they will have on the Congolese economy