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Tuesday, June 30, 1998 Published at 18:10 GMT 19:10 UK World: Africa New currency in DR Congo The government of the Democratic Republic of Congo has launched a new currency to replace notes which carried a portrait of the late president Mobutu. Its release follows a year of reforms aimed at bringing inflation under control and establishing a single exchange rate across the country. The central bank governor, Jean-Claude Masangu, told the BBC that new controls would prevent the soaring inflation that has accompanied the issuing of new currencies in the past. He said non-governmental organisations, churches and private companies would help to bring in old notes from the interior for exchange. The BBC correspondent in Kinshasa says the success of the new currency -- the Congolese franc -- is central to plans to relaunch an economy ruined during decades of misrule. From the newsroom of the BBC World Service |
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