Text Only
Search

 
IMF Tells Congo to Reform Economy


27 October 2005

The International Monetary Fund (IMF) told the Congolese government to carry out economic reforms rather than print more money to pay civil servants who are threatening to go on strike. Having already endured weeks of strikes by teachers across the country, Congo's government faces further problems as the public service unions call for a shut down of the government until they get a pay rise.

Teachers struck for higher wages during the opening few weeks of the school year, and now civil servants are threatening to follow suit in order to force the government to negotiate a pay hike.  

The International Monetary Fund, which is trying to help Congo's economic recovery says the congolese government should not print more money as it has done in the past.   Instead, the IMF said Kinshasa must adopt economic reforms, clean up payroll data to weed out non-existent workers and soldiers and tackle government corruption.

Despite a wealth of natural resources, Congo's economy has been reeling under poor management and government corruption.  Inflation in the early 1990s hit quadruple figures.

But following the end Congo's five-year civil war that sucked in six neighboring countries and killed more than four million people, the economy has stabilized.  Under the guidance of the IMF, inflation dropped to 19 percent and the economy is currently growing at six percent.

Still, government workers are paid little and not regularly.  Soldiers earn $12 a month.  The independent group Transparency International ranks Congo among the world's most corrupt countries.

emailme.gif E-mail This Article
printerfriendly.gif Print Version

  Top Story
US Says it Supports Egyptian-French Gaza Cease-Fire Plan

  More Stories
Israel Warns Residents Along Gaza-Egypt Border of Air Strikes
Ukraine, Russia Pricing Dispute Halts Russian Gas Exports to Europe
Past, Present and Future US Presidents Meet at White House  Audio Clip Available
Obama Says He Cannot Take Stand on Gaza Until He Takes Office  Audio Clip Available
Pakistan's National Security Advisor Fired After Mumbai Disclosure
AU Denies Somali Militant Group's Abuse Claims  Audio Clip Available
Darfur Women Warn of Reaction if ICC Indicts Bashir  Audio Clip Available
National Security Advisor Says Iran a Top Challenge for Obama
Zimbabwe's Mugabe Appoints Temporary Ministers  Audio Clip Available
Dispute Over Obama's Senate Seat May Come to an End
Press Groups Condemn Attack on Mexican TV Studio
Jewish Americans, Arab Americans Discuss Gaza Conflict in 'Peace Cafe'  Video clip available
Rains Bring Drought Relief to Parched Australia  Audio Clip Available
Rajasthan's Camel Trade Faces Changing Times  Audio Clip Available