chief of mission: Ambassador William GARVELINK embassy: 310 Avenue des Aviateurs, Kinshasa mailing address: Unit 31550, APO AE 09828 telephone: [243] (81) 225-5872 FAX: [243] (81) 301-0561
Flag description:
sky blue field divided diagonally from the lower hoist corner to upper fly corner by a red stripe bordered by two narrow yellow stripes; a yellow, five-pointed star appears in the upper hoist corner
Economy
Congo, Democratic Republic of the
Economy - overview:
The economy of the Democratic Republic of the Congo - a nation endowed with vast potential wealth - is slowly recovering from two decades of decline. Conflict, which began in August 1998, dramatically reduced national output and government revenue, increased external debt, and resulted in the deaths of more than 3.5 million people from violence, famine, and disease. Foreign businesses curtailed operations due to uncertainty about the outcome of the conflict, lack of infrastructure, and the difficult operating environment. Conditions began to improve in late 2002 with the withdrawal of a large portion of the invading foreign troops. The transitional government reopened relations with international financial institutions and international donors, and President KABILA has begun implementing reforms, although progress is slow and the International Monetary Fund curtailed their program for the DRC at the end of March 2006 because of fiscal overruns. Much economic activity still occurs in the informal sector, and is not reflected in GDP data. Renewed activity in the mining sector, the source of most export income, boosted Kinshasa's fiscal position and GDP growth. Government reforms and improved security may lead to increased government revenues, outside budget assistance, and foreign direct investment, although an uncertain legal framework, corruption, and a lack of transparency in government policy are continuing long-term problems.
GDP (purchasing power parity):
$19.03 billion (2007 est.)
GDP (official exchange rate):
$10.14 billion (2007 est.)