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
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Some people worry that OpenStack is more flash then substance; however, for many customers this could not be farther from the truth. No other technology equalizes the playing field between vendors while giving your internal teams better access than ever to infrastructure when they need it. In his session at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will talk through some real-world OpenStack deployments and look into the ways this can benefit customers of all sizes....
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infrastructure through automation. Ayehu solutions have been deployed by major enterprises worldwide, and currently, support thousands of IT processes across the globe. The company has offices in New York, California, and Isr...
Zerto exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016. Zerto is committed to keeping enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform™, organizations can seamlessly move and protect virtualized workloads between public, private and hybrid clouds. The company’s flagship product, Zerto Virtual...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said "No to LUNs." With Tintri they manage only virtual machines, in a fraction of the footprint and at far lower cost than conventional storage. Tintri offers the choice of all-flash or hybrid-flash platform, converged or stand-alone structure and any hypervisor. Rather than obsess with storage, leaders focus on the business app...
Addteq is one of the top 10 Platinum Atlassian Experts who specialize in DevOps, custom and continuous integration, automation, plugin development, and consulting for midsize and global firms. Addteq firmly believes that automation is essential for successful software releases. Addteq centers its products and services around this fundamentally unique approach to delivering complete software release management solutions. With a combination of Addteq's services and our extensive list of partners,...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it m...
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...