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By Charles Enoch, Karl Friedrich Habermeier, Marta Castello-Branco

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International Monetary Fund. , and W. Fontaine, 2004, “Challenges to Financial Intermediation in the Democratic Republic of Congo (DRC),” in Post-Conflict Economics In Sub-Sahara Africa, Lessons from the Democratic Republic of Congo, Ed. C: International Monetary Fund. , 2004, Contribution à l’Assainissement du Système Financier Congolais, Kinshasa: Banque Centrale du Congo. République Démocratique du Congo, 2005, Projet du Guide Comptable des Etablissements de Crédits, Volumes I and II; Kinshasa: Banque Centrale du Congo.

Since the beginning of 2005, this new framework has been used as a tool for forecasting and monitoring banknote flows, and planning the mint’s production of banknotes by denomination. x In late 2005, the reorganization of the Treasury Directorate (DT) was completed with the adoption of a new organizational chart and reassignment of staff. New work procedures and processes are being developed and put in place. The rehabilitation of the physical infrastructure of the DT (security perimeters, vault, storage facilities, counting/sorting machines, storage areas) has been launched with the inauguration of the new counting/sorting room in May 2006.

Moreover, the organization of key operational directorates was inadequate (no separation among back-office, middle-office, and front-office functions in the foreign exchange department), and there was little coordination among them. In 2001, the BCC faced an acute shortage of skilled staff and did not have, and still does not have, a training center. The immediate challenges are to consolidate the gains made thus far by the BCC in implementing monetary and financial reforms, and to restore BCC financial autonomy.

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