Malangu Kabedi Mbuyi was appointed on Monday by President Félix Tshisekedi to replace Deogratias Mutombo. The new manager has had her job excluded for her while the outgoing leaders are suspected by several non-corruption organizations of having led the bank to fraudulent practices.
as reported from Kinshasa, Pascal Mulegwa
Main goal, strengthen the credibility of the Central Bank of the Congo (BCC) towards their partners, restore the image. The bank was the core of several financial scandals, attached for example for not playing its role as the regulator of the banking sector in connection with the misuse of funds from the 100-day program. by President Félix Tshisekedi or about the alleged laundering of millions of dollars at Afriland First Bank.
She was even accused of directly paying tens of millions to Egal, a company known for being close to former President Joseph Kabila. The latest section that hit the headlines is the provision of credit cards to former dignitaries. They made it possible to withdraw funds directly from the public government account, according to the General Inspectorate of Finance (IGF).
Respect for texts
In any case, for the Congolese NGO Observatory of Public Expenditure, the new head is expected to follow the texts. “The new head must be able to clean up public finances at central bank level,” warns Valery Madianga, communications officer at the Public Expenditure Observatory. This is where it bleeds. All public revenues are handled very poorly, that the new boss can be very careful, respect the texts. It is also about fraudulent payments, non-compliance with the public spending circle. Accountants continue to withdraw millions of dollars in cash from the BCC and then perform transactions outside the bank, it is surprising. We have good texts, the problem lies in the application. The new governor must do everything possible, she has no room for mistakes. ”
Malangu Kabedi Mbuyi must also restore order in the banking sector. Due to alleged money laundering in most major banks, the DRC risks losing its ability to make dollar transactions, this is one of the biggest risks in a country where the economy is not only external but almost completely dollarized. Another challenge that risks opposing political projects, it will need to preserve the foreign exchange reserves that are too often used for ordinary expenditure or as for 2019 for infrastructure projects.
The arrival of this new figure should in any case make it possible to concretize the discussions between the IMF and Kinshasa with the signing of a three-year program in the next few days.
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