Michael J. Kavanagh

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Michael J. Kavanagh

Michael J. Kavanagh

@mjkcongo

Tweets on DRCongo & neighbors Following $ for @BBGAfrica @business Some tweets in bad French Tembo pression #CongoHoldUp https://t.co/drhC6EVotL https://t.co/3g5xiE9ncS

Beigetreten Kasım 2019
819 Folgt3.7K Follower
Michael J. Kavanagh
Michael J. Kavanagh@mjkcongo·
Cen Bank Gov Wameso says state's DRC Gold Trading not exclusive supplier of artisanal gold for BCC's monetary reserve project: “We can buy our gold from whomever can furnish it to us in the conditions of traceability, transparency and conformity” with law. x.com/i/broadcasts/1…
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Michael J. Kavanagh
Michael J. Kavanagh@mjkcongo·
Congo will audit its mining joint ventures to ensure companies are complying with requirements-including repatriation of export earnings-& aren't filing fraudulent import claims, Pres. Tshisekedi told his council of ministers. Prelim results due June 15 bloomberg.com/news/articles/…
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Michael J. Kavanagh
Michael J. Kavanagh@mjkcongo·
“The US government is not funding any units to police or guard mines in the DRC at this time,” the State Department said in an emailed response to questions Monday. bloomberg.com/news/articles/…
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Michael J. Kavanagh
Michael J. Kavanagh@mjkcongo·
Tshisekedi called on IGM/Mines Ministry to prosecute operators of illegal mines (particularly gold) seize their equipment & redistribute it to legitimate Congolese operations at Friday's Council of Ministers
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Michael J. Kavanagh
Michael J. Kavanagh@mjkcongo·
Congo has also relaxed Instruction 18, which required commercial banks to have 4 shareholders w/ at least 15% shareholding by June 2026. The number of shareholders & % holding is now up to the discretion of the central bank. Banks will need to file for an exemption
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Michael J. Kavanagh
Michael J. Kavanagh@mjkcongo·
Congolese franc still strong against the dollar, 6 months after its dramatic appreciation last year... 🧵 Thread below from our interview in Washington DC with Central Bank governor Andre Wameso
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Michael J. Kavanagh
Michael J. Kavanagh@mjkcongo·
Congo’s central bank to restrict cash transactions in US dollars starting next April to fight money laundering & improve trust in franc. DRC banks import billions in cash $ each year, but most seems to disappear, probably to neighboring countries bloomberg.com/news/articles/…
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