DR Congo Central Bank advances financial reforms following talks with U.S. Treasury

By:  Kanto Kai Okanta

The Central Bank of Congo has outlined a series of financial sector reforms following a high-level meeting with the United States Department of the Treasury, as authorities seek to strengthen transparency and modernize the country’s financial system.

The meeting brought together Central Bank Governor André Wameso and Minister of Finance Doudou Fwamba with officials from the U.S. Treasury. Discussions focused on the economic outlook of the Democratic Republic of the Congo, progress under its programme with the International Monetary Fund, and ongoing development financing efforts.

During the engagement, the Central Bank presented a key policy shift aimed at improving oversight of foreign exchange flows. The reform includes a strategic decision to centralize the importation of the U.S. dollar while promoting cashless foreign currency transactions. Authorities say the move is designed to enhance traceability and transparency in financial flows, as well as strengthen efforts to combat corruption, terrorist financing, and money laundering.

The U.S. Treasury welcomed the reforms, describing them as a significant and forward-looking step for the Congolese financial system. It also reaffirmed the Democratic Republic of the Congo’s importance as a strategic partner and expressed support for the Central Bank’s reform agenda.

U.S. officials further indicated their readiness to assist in the implementation of the measures, noting that the reforms are expected to improve the quality and availability of financial data while reinforcing transparency across the financial sector.

The latest developments signal growing international backing for the Democratic Republic of the Congo’s efforts to modernize its financial architecture and strengthen regulatory oversight in line with global standards.