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.
Political Structure
The Current political situation is slightly ambiguous, because the Congo is living in the interregnum Interregnum between two constitutions, that establish different political institutions, at the various levels, in all branches of government, as well different administrative divisions of the country. Politics in the Democratic Republic of the Congo therefore take place in a framework of a republic in transition from a civil war to a presidential democratic republic.
The transition constitution established a system composed of a bicameral legislative with a Senate of the Democratic Republic of the Congo and a National Assembly. The Senate has, among other things, the charge of drafting the new constitution of the country. The executive branch is vested in a 60 member cabinet, headed by a President, and 4 vice-presidents. The President is also the Commander-in Chief of the Armed forces. The unusual executive organization of the executive - considering the large number of VPs - has earned it the very official nickname of The 1 + 4.
The transition constitution also established a relatively independent judiciary, headed by a Supreme Court with constitutional interpretation powers.
Prominent Figures
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 Congo—a nation endowed with vast potential wealth—has 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
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