Welcome!

News Feed Item

Statement by HE Barnabe Kikaya bin Karubi, DRC Ambassador of the Democratic Republic of the Congo to the UK:

LONDON, December 17, 2012 /PRNewswire/ --

"The International Monetary Fund (IMF) decision to suspend its loan to the Democratic Republic of Congo (DRC) is a deeply upsetting development.

We have worked closely with the IMF for many years to cancel our debt, which was mainly racked up by the corrupt Mobutu regime.  In doing so, our Government has established a strong working relationship with the IMF.  Together, we designed a government economic program that would comply with all the conditions required to qualify for the cancellation of that debt under the Highly Indebted Poor Countries program. When that was achieved we embarked on an economic program that would allow the country to move forward after years of decay and civil wars.

Much economic progress has been realised despite difficult circumstances:

  • between 2009 and 2012 the overall annual growth of our economy went from 2.8% to 7.2%.
  • The inflation rate was brought down from 46% to 3%.
  • The Congolese Franc is stable.
  • Direct private investments are on the rise.
  • Public revenue as well as the national wealth has doubled.
  • The government has introduced a VAT that has helped the tax system for companies.
  • The DRC has joined the OHADA, the African Organisation for the harmonisation of Business Laws that gives security to foreign investments.
  • Special zones of activities with tax relief have been created in order to boost job creation.
  • The government launched a system whereby salaries are paid through the banking system to fight corruption and to feed the banks with fresh cash every month.
  • For the first time in decades, mineral production has reached the historical levels of 1980.

It is this positive trend that the IMF has decided to slow down by its decision to suspend the remaining portion of the loan.

The international community, and our bilateral aid donors in particular, know that we have been cooperative, transparent and above board in all our dealings with the IMF. 

The decision to suspend the remaining portion of the loan at this time is in direct support of opposition forces aligned with those who work for the destabilization of our country and its government.  This is a political attempt on the sovereignty of our nation and will alarm many other African and developing nations throughout the world.

Despite numerous challenges, we are working for a brighter future for all Congolese, and the cancellation of this loan will damage our foreign currency reserves and could destabilize our economy. It will directly hurt the people such loans are intended to help. Non-Governmental Organizations (NGO) who spread innuendo and claim corruption - without any evidence to back up their claims - need to take responsibility and realize the damage they are doing to economic prospects of the DRC and our population.   They need also know that in such instances they are doing more harm than good to nearly 70 million people.

We can only presume that individuals and groups with political agendas against the Government of President Kabila have influenced the IMF representation in Kinshasa. When the DRC Government has given all the answers it can to all the questions put by the IMF, why now should the IMF office be singling out one contract as the basis for stopping loan disbursements of some $225 million?  Have they fully considered the consequences that cancelling these loans will have on the DRC because they were unsatisfied with paperwork on one contract out of over 130 contracts?

The Government of the DRC has and will continue to work with the IMF and other international financial institutions.  It is in our best interests to do so for numerous reasons, including that such international assistance further helps us put in place the institutions that President Kabila, who has restored democracy to the DRC after years of misrule, believes are essential to sustaining the progress we have made. We want to work with international partners who are demanding but understanding, critical but lucid, and respectful of our independence and sovereignty.

Those who lobby for the cancellation of vital loans - and those who are influenced by such hollow reasoning - are recklessly harming the prosperity of the DRC and its people."

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
With more than 30 Kubernetes solutions in the marketplace, it's tempting to think Kubernetes and the vendor ecosystem has solved the problem of operationalizing containers at scale or of automatically managing the elasticity of the underlying infrastructure that these solutions need to be truly scalable. Far from it. There are at least six major pain points that companies experience when they try to deploy and run Kubernetes in their complex environments. In this presentation, the speaker will d...
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
When building large, cloud-based applications that operate at a high scale, it's important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. "Fly two mistakes high" is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Le...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
As Cybric's Chief Technology Officer, Mike D. Kail is responsible for the strategic vision and technical direction of the platform. Prior to founding Cybric, Mike was Yahoo's CIO and SVP of Infrastructure, where he led the IT and Data Center functions for the company. He has more than 24 years of IT Operations experience with a focus on highly-scalable architectures.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
CI/CD is conceptually straightforward, yet often technically intricate to implement since it requires time and opportunities to develop intimate understanding on not only DevOps processes and operations, but likely product integrations with multiple platforms. This session intends to bridge the gap by offering an intense learning experience while witnessing the processes and operations to build from zero to a simple, yet functional CI/CD pipeline integrated with Jenkins, Github, Docker and Azure...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Dhiraj Sehgal works in Delphix's product and solution organization. His focus has been DevOps, DataOps, private cloud and datacenters customers, technologies and products. He has wealth of experience in cloud focused and virtualized technologies ranging from compute, networking to storage. He has spoken at Cloud Expo for last 3 years now in New York and Santa Clara.
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.