Cadre juridique de la règlementation de change à l’épreuve de l’intégration économique de la République Démocratique du Congo

Abstract

The legal framework of the Congolese exchange rate regulation has the advantage of taking into account the policy of de-dollarization of the economy by imposing payments of transactions between residents, the rights due to the State, to decentralized territorial entities as well as public services exclusively in national currency, namely the “Congolese Franc”. However, the study shows that it is the legal framework of foreign exchange regulation that is at the root of the Congolese economic disaster insofar as it enshrines multiple monetary competition of foreign currencies on the national territory through the liberalization of their holding and use. Therefore, it is obvious that this legal framework of the exchange rate regulation augurs the negative foreignness of the national economy and does not impact positively on the economic integration of the country. Indeed, the multiple monetary competition on the national territory negatively affects the balance of payment, and consequently does not allow the country to draw the dividends of economic integration. A profound reform of the aforementioned legal framework is necessary in order to ineluctably curb this negative foreignness. In pursuit of this matter, joining a monetary union is a good way to translate this negative foreignness into positive foreignness thanks to the co-ownership of the monetary sovereignty of the States parties on the one hand, and on the other hand, it will provide the country with an efficient payment system.