Africa Financial Sector Responses to COVID-19 - Democratic Republic of Congo

Jul 28, 2020

This page presents measures and initiatives by the Congolese government, national central bank and Development Finance Institutions (DFIs) in support of a resilient domestic financial sector facing the effects of the COVID-19 pandemic.

Disclaimer: This page contains information and links from third parties. These links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by MFW4A.

Instrument

Institution

Financing volume

Description 

Monetary policy

Central Bank (DRC)

N/A

(August 15, 2020) The monetary policy committee of the Central Bank of Congo (BCC) adopted the increase in the key rate from 7.5% to 18.5%, i.e. an increase of 11 basis points, in order to "enable the BCC to regularize economic activity weakened by the negative effects of the coronavirus pandemic".

Monetary policy and rules and regulations

Central Bank (DRC)

N/A

(April 15, 2020) Economic stimulus measures, including monetary policy measures (key rate cut from 9% to 7.5%), temporary relaxation of regulatory requirements for financial institutions, removal of penalties on delinquent loans, increase to 2,500 USD of the monthly limit of the amounts of daily transactions in electronic money and uncapping of the monthly limit of electronic transactions.

 


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