In order to fully analyze and comprehend the economic history of the Democratic Republic of the Congo (DRC) a brief introduction of the country will be given. Also the political situation of the nation since its independence, as it helped shaped its economy will be examined. Subsequently an economic outlay of the entire nation since its independence will also be examined. Its economic achievements and lack of economic achievements of the country will be used to diagnose the state of its economy over the past years especially since gaining its independence. Also various obstacles prohibiting it from attaining further economic development will be assessed. Finally recommendations will be made on how it can overcome these obstacles in order to enhance economic growth and development.
Introduction Of The Democratic Republic Of The Congo
The DRC (formerly known as Zaire) is a country located in central Africa. It is the third largest African country by land mass. The DRC has an estimated population of 67 million, which ranks 18th in the world. There are approximately 250 ethnic groups in the DRC. It is boarded by the Republic of Congo to the west, by the Central African Republic and the Sudan to the North, also by Uganda, Rwanda and Burundi to the east, and Zambia and Angola to the South. The DRC gained its independence from Belgium on June 30th 1960. The currency of the DRC is the Congolese Franc (CDF). As of 2009 the DRC had an estimated GDP of $12.6 billion and a per capita income of $188.
Political Overview Of The Democratic Republic Of The Congo
The political and security situation in the DRC has always been very fragile. A year after its independence, its Prime Minster was assassinated. Four years after that Mobutu Sese Seko took charge of power renaming the country Zaire. He was President of the DRC up until 1997, when a rebel group backed by Rwanda installed Laurent... [continues]
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