What is the Congolese franc (CDF)?
Credit Ratings & Outlook
Sovereign credit ratings play an important part in determining a country’s access to international capital markets, and the terms of that access. Sovereign ratings help to foster dramatic growth, stability, and efficiency of international and domestic markets.
In 2010 the total GDP was $13,144,743,452 in US Dollars, while the per capita GDP was $199. It grew by 7.20% over the previous year.
Consumer Price Index
The latest consumer price index for 2008 is 155.08.
The Congolese franc, also denoted by CDF, is the official currency of the Democratic Republic of Congo. The franc was introduced in 1997, replacing the old currency, the new Zaire. The Congolese franc is subdivided by 100 centime with 1, 5, 10, 20, and 50 cent coins; however these coins are hardly in use anymore. The banknotes that are used are similar to those used with the US dollar with the addition of a 200 franc and 500 franc notes.
- President: Joseph Kabila (since January 2001)
- First Vice President: Azarias Ruberwa
- Second Vice President: Arthur Z’ahidi Ngoma
- Third Vice President: Abdoulaye Yerodia Ndombasi
- Fourth Vice President: Jean Pierre Bemba
Key Economic Factors
Economic Overview:The economy of the Democratic Republic of the Congoa nation endowed with vast potential wealthhas declined drastically since the mid-1980s. The two recent conflicts (the First Congo War and Second Congo Wars), which began in 1996, have dramatically reduced national output and government revenue, have increased external debt, and have resulted in the deaths from war, famine, and disease of perhaps 3.8 million people. Foreign businesses have curtailed operations due to uncertainty about the outcome of the conflict, lack of infrastructure, and the difficult operating environment. The war has intensified the impact of such basic problems as an uncertain legal framework, corruption, inflation, and lack of openness in government economic policy and financial operations. Conditions improved in late 2002 with the withdrawal of a large portion of the invading foreign troops. A number of IMF and World Bank missions have met with the government to help it develop a coherent economic plan, and President Joseph Kabil has begun implementing reforms. Much economic activity lies outside the GDP data.
1 Congolese Franc to:
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- Other Currencies Accepted:Dram is the sole legal tender but all major currencies are accepted at retail and financial institutions and in private transactions
- Currency Peg: No
- Black Market for Currency: No
- Currency Volatility: Medium to High
- Estimated GDP Per Capita: 4,600 USD (2004)
- Languages Spoken: Armenian (96%), Russian (2%), other (2%)