the citizen's blog
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In this hard-hitting excerpt from a blog post, Congolese MP Olive Mudekereza calls on the government to invest heavily in the agriculture sector. He argues that this investment would help reduce import dependency and regulate the exchange rate. Inspired by the Kenyan model, it highlights the DRC’s untapped potential in growing produce such as Idjwi avocados, plums and pineapples. To realize his vision, Mudekereza proposes measures such as the creation of agricultural banks and the improvement of transport infrastructure. He points out that the development of agriculture could create jobs, boost the economy and contribute to the country’s food security.
In the first quarter of 2023, the Democratic Republic of Congo (DRC) announced a successful mobilization of 362 billion Congolese Francs (CDF), or approximately 179.1 million US dollars, through the issuance of indexed Treasury Bonds and indexed Treasury Bills. This strategy aims to diversify the sources of financing and respond to the high public expenditure of the Congolese government. Reimbursements made on overdue securities amount to CDF 278.5 billion. Although this mobilization demonstrates the confidence of investors and the efforts of the government, there are still challenges to be met, such as the fight against corruption and the improvement of transparency in the management of public finances. It is crucial to continue to diversify sources of funding, strengthen transparency and fight against corruption in order to promote economic development and the well-being of the Congolese population.
The Congolese government attaches great importance to accelerating the development program in the Democratic Republic of Congo. The Minister of State in charge of Planning, Judith Suminwa Tuluka, visited UNDP headquarters to discuss the progress of the work. She underlined the delay in the execution of the Development Program of 145 territories (PDL-145T), which aims to bring improvements in the field of education in particular. UNDP’s Rania Hadra welcomed the government’s initiative and pledged its support. The UNDP has a substantial budget to carry out this work. The acceleration of this program is crucial to improve the living conditions of local populations and promote the economic development of the country.
In this article, we highlight the significant increase in the holdings of commercial banks in national currency at the Central Bank of Congo. According to a recent report, assets have seen a weekly increase of 272.1 billion Congolese Francs. This positive trend reflects the economic and financial stability of the country, as well as the confidence of banking players in the national currency. This increase in assets reflects an increase in customer deposits in banks and suggests renewed confidence in the Congolese financial system. This opens up encouraging prospects for the country’s economic development, but it is important to continue to promote transparency, good governance and financial inclusion to maintain this positive momentum.
The completion works of the RN 5 road between Bukavu and Kamaniola in the province of South Kivu are in progress. This initiative, launched by President Félix-Antoine Tshisekedi Tshilombo, aims to improve the living conditions of the local population by facilitating travel and strengthening regional integration. The works will also contribute to the economic development of the region by promoting trade and investment. This major step demonstrates the Congolese government’s commitment to investing in infrastructure and improving the well-being of the population.
The instability of the exchange rate in the DRC is a major concern. President Félix Tshisekedi has decided to mobilize the IGF, the government and the BCC to regulate the exchange rate. The recommendations of economic experts and the repatriation of foreign currency earnings from mining operators are measures envisaged to stabilize the local currency. Exchange rate regulation is key to fostering sustainable economic development and boosting investor confidence.
President Félix Tshisekedi is seeking to resolve the fluctuating Congolese franc exchange rate by taking steps to regulate the currency. Thus, the government, the Central Bank of Congo and the General Inspectorate of Finance (IGF) were responsible for implementing these measures. Experts also recommend that mining operators repatriate 40% of their sales in foreign currency in order to stabilize the exchange rate. As the DRC has a free exchange market, government intervention and coordination between different institutions are essential to regulate the exchange rate. Exchange rate stability is necessary to foster a predictable economic environment and support the Congolese economy. The implementation and effectiveness of these measures will be crucial to achieving this goal.
In this article, we analyzed the growth of commercial bank holdings in national currency in the Democratic Republic of the Congo (DRC). As of July 14, 2023, assets recorded a significant increase of 272.1 billion Congolese Francs. This increase is encouraging for the country’s economy and testifies to the confidence placed in the Congolese banking sector. With an annual total of 3,193.4 billion Congolese Francs, the assets of commercial banks continue to grow steadily. In addition, the positive net position and the compulsory foreign currency reserve reinforce the financial stability of the DRC. This development is an encouraging sign for the Congolese economy, guaranteeing the attractiveness of the country for investments and the confidence of economic actors. However, it is important to continue to promote economic growth, investment and financial stability to ensure the country’s sustainable development.
The renovation of the national road N°5 between Bukavu and Kamaniola in the DRC is a project that will greatly improve the living conditions of the population of the region. With this renovation, residents will have easier access to essential services such as health, education and commerce. This initiative demonstrates the Congolese government’s commitment to developing infrastructure and improving the living conditions of its citizens. Hopefully the work will be done quickly and efficiently for the benefit of all.