KINSHASA (DR Congo), Aug 15 — DR Congo has revived a long-standing dream of promoting the national currency and sidelining the dollar to regain control over key economic levers. The Democratic Republic of Congo’s economy became informally “dollarised” several decades ago under the...
KINSHASA , Aug 15 — DR Congo has revived a long-standing dream of promoting the national currency and sidelining the dollar to regain control over key economic levers.
The use of the dollar tamed hyperinflation, but also sapped the government’s room to shape fiscal policy and spending, which are the basic tools of economic management. Strengthening the franc would improve the public’s purchasing power and help to “accelerate the de-dollarisation process,” the report said.
“Talk of the de-dollarisation of national life... should not be a slogan or a roll-call of glib intentions,” the daily Le Potentiel warned this week.Economist Michel Nsomue said the government was hobbled by a fundamental problem.
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