New Zaire disappeared with Zaire

More than a year ago, when the long-term reign of the dictator Mobutu came to the end, the new government promised to introduce a solid national currency to the population. With the fulfillment of this promise, it looked slightly, but at the beginning of this month was finally conceived. New monetary unit gave the old name – Congolese Franc. So called local money before coming mobutu to power.

The stability of the franc is guaranteed by rigid binding to the US dollar, the gold and currency reserve of the country, as well as the abundant promise of the authorities to prevent uncontrolled monetary emissions at no matter of any of the most difficult financial circumstances. But the authorities seem to be completely believe in the reliability of all these guarantees. So just in case they have given fellow citizens one more promise without delay to shoot anyone who is suspected of "undermining" Congolese franc.

The sad history of Zaire (ie currency, not the country) had a lot of populism and politicking and financial irresponsibility. When General Mobutu arranged at the end of the 60s the military coup in the former Belgian Congo, he began ostentatiously to cast their possessions "vestiges of colonialism". The State gave "primordial" African name Zaire, instead of the same name with the monetary unit of the metropolitan franc invented purely "national" currency – too Zaire.

In the treatment of Zaire introduced June 24, 1967, and it cost then $ 2. This worthy exchange rate lasted quite a long time – until 1976. In the year equated to Zaire "Special Drawing Right" – notional unit of account of the International Monetary Fund. He has fallen sharply in price, but still amounted to $ 1.15.

Then came the financial mess. Official devaluation followed one after another: in 1983, 1988, 1989, 1991. And when tired of Mobutu of Zaire to devalue, the unfortunate currency rolled down even faster – without any government regulations,. In 1985, the US dollar was 50 Zaire in early 1993 – 8.000.000, and in December of the same year – 110.000.000.

This enormous number of zeros is no longer fit in the minds of not very educated subjects Mobutu, and at the turn of 1993 and 1994 the dictator spent denomination instead of Zaire, a new Zaire. Seriously from that nothing has changed. Just counter inflation began to click with a new mark. By that time, when rebels led by Laurent-Désiré Kabila in May 1997, Mobutu was forced to flee the country, "naschelkat" more than hundreds of thousands of new Zairov per dollar.

Kabila started with about the same, with what and Mobutu in his time – with the elimination of the vestiges. Not only of colonialism and dictatorship. The country returned to its former "domobutovskoe" name – the Democratic Republic of Congo. Immediately after joining the capital, the Cabil announced the imminent return of the Congolese franc. And reported the future course of this currency: 2.5 per US dollar. The course was supposed to make it invulnerable to the transformations of the market element: a rigid binding was planned between the dollar and the Congolese franc.

The new government has enough mind not to conduct monetary reform immediately. At first it was necessary to slow down the inflation overclocked during mobutu. In addition, the winners of the rebels found that the country took them actually split into several independent currency zones. Since the new Zaire has become very bad in the last years of his life, the population with a fracturing order passed into calculations in more sustainable monetary units of neighboring African states: Ugandan and Tanzanian shillings, African francs, South African ranes and American dollars.

The advertising and explanatory campaign of the National Bank of the country for the introduction of the Congolese franc went under the slogan: "Unified currency for the combined people!"

New Zaire disappeared with Zaire

To this summer, with inflation managed to cope. It fell from 600% per year to quite decent 3%. True, a week before the introduction of a franc exhausted by expectation, the population gave inflation to the last powerful push. The new Zaire fell from 120.000 to 135.000 per dollar.

Nevertheless, the premiere of the Congolese franc took place on June 30. Entered it even at the rate of 1.4 per dollar, that is, more high than planned a year ago. As for the monetary units, addressed in ex-Zaire, their course "Newbie" Announced: 1 Franc is 100.000 New Zairov, or 14.000.000 "simply" Zairov. Citizens of the country can exchange old money throughout the year.

After a ten-year break in the pockets of Zairtsev-Congolese, coins were greeved – Santila (1/100 Franca). Coins have proven the advantage of 10 and 50 centimes, as well as 1 franc. Banknotes issued a par value of 10 and 50 francs. At mobutu at bills, only President Mobutu was depicted. Cabil resisted from temptation to follow the example of the defeated enemy. Franco drawn local animals, works of traditional African crafts – and no politics.

However, the population does not believe that everything will be okay. After decades of inflation leapfrog such wariness is understandable. Deal with it, the Congolese government is ready to not only conviction but also more determined methods. The Minister of Justice Mwenze Kongolo said recently on television that the military tribunals will be sentenced to death people who "undermined" Congolese franc. The reason for this statement was a hard case finding clandestine Congolese franc exchange for dollars at the rate of 1,45-1,50.

Under the leadership of Minister Kongolo in Democratic Congo has already occurred complete replacement of the civil justice system in the military. Death sentences there may be obtained for such crimes as "political activity" or "uncivil". It’s obvious that "podryvatelyam" Franc is also no good does not shine.

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