Congolese Plans to Tax Miners in Francs to Cut Dollar Use
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Democratic Republic of Congo Prime Minister Matata Ponyo said his government plans to tax mining companies in local currency in an attempt to “drastically reduce” dollarization in the economy within three years.
The DRC franc has been stable for four years and “we don’t have any justification for people to pay taxes in U.S. dollars,” Ponyo said in an interview on Oct. 11 in Washington, speaking through an interpreter. “We are in the process to de-dollarize our economy and bring people to use the local currency more and more.”