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Ministry of Finance in the DRC: Nicolas Kazadi reappointed

28/03/2023
Source : ORISHAS FINANCE
Categories: General Information

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On the night of Thursday 23 to Friday 24 March in the Democratic Republic of Congo, the government announced the reappointment of Nicolas Kazadi as the country's finance minister. He has a track record in terms of conducting strategic reforms and mobilizing funds.

Nicolas Kazadi is a reformist economist who has been in business since April 2021. He successfully initiated a series of major reforms that removed his country from the grey list of international finance. Moreover, after several years of suspension of cooperation between the International Monetary Fund (IMF) and the DRC, the country has concluded a three-year program with the Fund since 2021. As a result, economic growth rates increased from 6.1% in 2021 to 8.5% in 2022. For its part, Moody's raised the DRC's rating in early November from Caa1 to B3 with a stable outlook.

The economist by training, Nicolas Kazadi has extensive experience in national and international development issues. He spent two decades abroad as a senior official at the African Development Bank (AfDB) and the United Nations Development Programme (UNDP). He returned to the DRC in 2019 as the Head of State's Goodwill Ambassador before being appointed Minister of Finance.

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