DR Congo central bank names new governor

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The Central Bank of the Democratic Republic of Congo has named Deogratias Mutombo Mwana Nyembo as its new governor.

Nyembo, who will serve a five-year term, was previously head of markets in the banking operations department. He replaces Jean-Claude Masangu Mulongo, who was appointed in August 1997 and went on to serve three successive terms.

Mulongo faced triple-digit inflation when he was appointed, which at its peak in 2000 reached 554%. The central bank successfully brought it under control

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