Congo (Democratic Republic)
DRC says central bank needs recapitalisation
Government says BCC has no real equity as war and elections add to economic crisis
People: April to June 2023
A round-up of central bankers in the news and on the move during the past three months
People: First governor of Congo central bank dies aged 92
Deputy governors depart in Canada and Sweden; and more
Rates round-up: Ghana and Thailand tighten
Many central banks in Africa, Asia and Europe still raising rates, but Angola continues cuts
Rates round-up: Pakistan adds 100bp to main rate
Central banks raise rates in Kenya, Congo and Iceland
DRC central bank cuts benchmark rate by 100 basis points
Central African giant continues loosening monetary policy amid growth and steady inflation
DRC’s president changes central bank board under IMF pressure, report says
IMF approves a $1.52 billion loan to DRC days after Tshishekedi removes directors
DRC’s president appoints IMF official as first female governor
IMF deal says government must stop using central bank's reserves and strengthen independence
Congo central bank lowers policy rate 200bp
Central African country has now largely reversed rate increase from 2020
DRC promises central bank reforms
Kinshasa makes pledges to IMF in return for $1.5 billion three-year loan
IMF staff says Congo must stop central bank financing
Report warns reserves are being eroded and says government must repay central bank
DR Congo slashes rates to 9% from 14%
Central bank hopes period of relative stability will endure
DRC central bank more than triples rate amid reserves squeeze
Congo central bank raises headline rate five percentage points as foreign reserves continue to dwindle; economy is suffering from copper slump and difficult external environment
Democratic Republic of Congo moves to stabilise currency following unscheduled MPC meeting
Central bank outlines plans to sell foreign currency and increase reserve requirements; calls on government for supporting measures
Dollarisation and institutional weakness hamper Congolese monetary policy
IMF paper highlights 'fiscal dominance' and 'lack of authority' as among reasons for central bank's ineffectiveness; strengthening current policy framework remains 'first-best option'
DR Congo central bank names new governor
Head of markets given the nod as Jean-Claude Mulongo steps down after three terms; takes over after dramatic cycle of tightening drags inflation into single digits
Democratic Republic of Congo fights dollarisation
Central Bank of the Democratic Republic of Congo releases new high-denomination banknotes; move signifies efforts to limit dollarisation in the country but also poses inflation risk
Congo hikes rates to 55% as currency plunges
The Central Bank of Congo attempted to halt the depreciation of the CFA franc on Monday with a 15 percentage-point hike in its key rate to 55%.
Economic woes await next Congo president
According to this article published Thursday 9 November by AFX, whoever emerges winner of Congo's recent presidential election will have a hard time wooing back citizens who have given up on institutions in favour of a giant shadow economy.
Oil and growth in the Republic of Congo
This IMF Working Paper investigates the linkages between oil and growth in Congo, where there appears to be no evidence of direct spillover effects.