Category: Economy

The government of the Democratic Republic of the Congo has taken measures to combat the depreciation of the national currency. The Prime Minister has requested the daily publication of the official and parallel exchange rate, as well as the display of these rates in exchange offices for greater transparency. Other measures, such as the possible publication of the central bank’s key rate, are also being considered. These actions are aimed at stabilizing the economy and maintaining investor confidence. It is important to closely monitor the economic situation and the measures taken to mitigate the effects of currency depreciation.

South African President Cyril Ramaphosa is on a two-day official visit to the Democratic Republic of Congo (DRC), demonstrating the desire to strengthen economic cooperation between the two countries. Memoranda of understanding should be signed, particularly in the fields of defence, security and immigration. The visit emphasizes economic cooperation, promoting trade and investment, and enabling economic development and job creation. This event marks an important step in strengthening ties between the DRC and South Africa.

The Democratic Republic of Congo (DRC) and Angola have signed a production sharing contract for oil exploitation in the common maritime zone. This historic agreement marks a turning point in the economic diversification of the DRC and could have a significant impact on its development. After 16 years of discussions, the two countries managed to find a balanced agreement, with an equal distribution of income. This promising collaboration opens up new prospects for economic growth and strengthens regional cooperation. If this joint operation succeeds, the DRC could benefit from a significant increase in its income, which could be invested in development projects. A new era of prosperity seems to be emerging for the DRC.

The Democratic Republic of Congo (DRC) and Angola will soon sign an oil production sharing contract in the common maritime area. After years of negotiations, this agreement will allow for a fair distribution of income between the two countries. For the DRC, this opportunity represents a diversification of its economy and an improvement in its finances, while Angola will also be able to benefit from the income from this joint operation. This advancement marks an important step in achieving the DRC’s goal of becoming an oil-producing country in Africa.

In this article, we examine the measures taken by the Congolese government to stabilize the national currency, the Congolese franc, in the face of its depreciation on the foreign exchange market. The government has asked the central bank to publish the official and parallel exchange rates daily in the media, in order to inform the population and build confidence. Another measure is to require exchange offices to display exchange rates inside their premises to avoid manipulation and misinformation. The government also plans to publish the central bank’s policy rate soon to reduce demand and absorb excess liquidity in the market. Finally, the government is determined to use all other instruments available to deal with the economic crisis and maintain the stability of the Congolese currency. These actions bear witness to the government’s desire to restore confidence and support the Congolese economy.

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The Governor of the Central Bank of Congo, Malangu Kabedi Mbuyi, announced that despite some tensions on the goods and services market, economic news in the DRC remains stable. Inflation increased slightly to 0.59% for the last week of June 2023, mainly due to food and housing prices. The Congolese currency exchange rate also showed a downward trend against the US dollar. To cope with these inflationary pressures and the depreciation of the currency, measures have been taken, such as raising the key rate and the compulsory reserve coefficient on deposits in Congolese francs. The Governor also underlined the importance of complying with the regulations of the Central Bank in terms of foreign exchange offices and dealers. It recommended the coordination of budgetary and monetary policies, as well as the maintenance of the stability pact to avoid the monetary financing of the State deficit. It is essential to put in place measures to stabilize the exchange rate and promote local production in order to strengthen the country’s economy.

The Democratic Republic of Congo (DRC) and Angola have reached an oil production sharing agreement in their common maritime area, after 16 years of discussions. This agreement opens up new economic prospects for the DRC by diversifying its economy and improving its fiscal space through the equitable distribution of income. It will also strengthen diplomatic and economic relations between the two countries and attract new investments in the oil sector. The DRC can now hope to become an oil-producing country in Africa and pave the way for future cooperation projects with Angola.

During a meeting of the Council of Ministers, the governor of the Central Bank of Congo gave an update on the country’s economic situation. Despite a slight rise in inflation and a depreciation of the exchange rate, the Congolese economy remains broadly stable. The central bank has taken measures to stabilize the situation, in particular by raising the key rate and increasing the reserve requirement on deposits in Franc Congolais. It is also crucial to promote domestic production and reduce import dependency. The Governor stressed the need to fight against speculation and manipulation of exchange rates. Despite the challenges, the Congolese economy remains resilient and the government continues to work to ensure sustainable and inclusive growth for the benefit of all.