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IMF-WB: DRC Finance Minister castigates injustices suffered by Africa

Kinshasa, October 22nd, 2022 (CPA) – The Minister of Finance Nicolas Kazadi accompanied by the Minister of State in charge of Planning, Christian Mwando Nsimba, castigated the injustices suffered by Africa for access to markets and green financing, during a meeting on international financial architecture, held in Washington, USA. A press release from the Ministry of Finance received by the CPA on Friday specifies that Nicolas Kazadi made this statement during his participation in the annual meeting of the International Monetary Fund (IMF) and the World Bank (WB), held from October 10 to 16 in this American city. During this meeting organized by the IMF and the United Nations Economic Commission for Africa (UNECA), the Minister of Finance demanded in-depth reforms to improve the current system characterized by the injustices above mentioned.

During these meetings, the participants reflected on the new threats which the economies of developing countries are currently facing, with the war between Ukraine and Russia.

On this occasion, the Vice-President of the World Bank, Ousmane Diagana, hailed the progress made by the Congolese government, before promising to strengthen the partnership between the two parties, whose portfolio today amounts to more than USD 7.2 billion.

He also promised the support of his financial institution to put an end to the fragility caused by the war in the east of the country of DRC. In addition, the Minister of Finance and the Director of Operations of the World Bank in DRC, Burundi, Angola, and Sao Tome-et-Principe, Albert Zeufack, signed a draft emergency agreement for the benefit of the city of Kananga to effectively fight against erosion.

Exchanges on issues of common interest

Still on the sidelines of these Annual Meetings, the members of the Congolese government had a working session with the Managing Director of the International Finance Corporation (IFC), Makhtar Diop, on issues of common interest, in this case the electric batteries, town planning and housing, improvement of the legal framework favorable to Doing Business. The Minister in charge of Finance was also received at the US Treasury by Under-Secretary of State Brian Nelson.

The two personalities discussed the fight against money laundering and the financing of terrorism. The participation of DRC in these meetings had been previously prepared between Nicolas Kazadi, the Budget Minister, Aime Boji and the Governor of the Central Bank of Congo (BCC), Marie-Jeanne Malangu Kabedi Mbuyi. CPA/Lys

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