The Congolese franc has recently experienced relative stability on the official foreign exchange market in the Democratic Republic of Congo. According to the Central Bank of Congo (BCC), the appreciation of the national currency stood at 0.6% the week from May 19 to 26. On the other hand, on the parallel market, a slight depreciation of around 0.11% was observed during the same period. The average exchange rate of CDF 2,319.44 per US dollar in major provincial cities fell by 0.27%.
The execution of the budget in dollars, until May 23, generated a deficit of 94.09 million USD. This results from receipts of around 68.9 million USD and expenses of 162.9 million USD. In addition, international reserves stood at USD 4.1 billion as of May 25, covering 2.25 months of imports.
However, despite a slight improvement, the country’s economic situation remains worrying, particularly with the chaotic security context in certain regions. The citizens’ movements also denounce the forcing in the electoral process and call for the suspension of the bill on the distribution of seats.
In addition, the Congolese government is accused of not ensuring security in the country. A situation that greatly affects tourism and entrepreneurship. Efforts have however been welcomed by Western embassies for the establishment of the independent national electoral commission.
The Democratic Republic of Congo must work to stabilize its troubled regions and put in place appropriate economic and political measures to enable its people to have a better future.