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 Army Charges Alleged Fort Hood Shooter with Premeditated Murder

  More Stories
Kremlin Calls for Sweeping Modernization of Russia  Audio Clip Available
Obama Orders Revisions to Afghan Options
Obama Begins First Presidential Trip to Asia  Audio Clip Available
Obama to Hold Jobs Summit in December   Audio Clip Available  Video clip available
Reports: US Ambassador to Kabul Expresses Caution About More Troops  Audio Clip Available
APEC Ministers say  Economic Recovery is Fragile  Audio Clip Available
Clinton Vows Support for Philippine Typhoon  Recovery, Anti-Terrorism Fight  Audio Clip Available
US Leaders May Interact With Burmese at Singapore Summit  Audio Clip Available
N. Korea Says South Will Pay 'Expensive Price' for Naval Clash
China Rejects Human Rights Watch Report on Black Jails
Thasksin Delivers Speech in Phnom Penh
Sri Lanka Military Chief Resigns  Audio Clip Available
As Alleged Fort Hood Shooter Recovers, New Questions Arise  Video clip available
Pakistan Seeks Role in US-Afghan Policy
Obama's Middle East Strategy Stalls
Zimbabwe Land Seizures Reportedly Intensify  Audio Clip Available
First Recorded Dengue Fever Epidemic Hits Cape Verde  Audio Clip Available
Paisley, Swift Winners at CMA Awards  Audio Clip Available