Wednesday, April 18, 2012

DR Congo Finance Minister Augustin Ponyo to be new PM

The President of the Democratic Republic of Congo, Joseph Kabila, has appointed Finance Minister Augustin Matata Ponyo as his new prime minister.
Mr Matata is a respected financial expert credited with stabilising the country's economy.
The appointment ends five months of deadlock after polls criticised for widespread irregularities.
The country has been run by a temporary administration after Mr Kabila and his party was returned to power.
The opposition leader Etienne Tshisekedi disputed the election results and at first declared himself president.
Mr Matata's first job will be to draw up a budget for the government. Since becoming finance minister in 2010 he has attracted praise from the International Monetary Fund for stabilising the country's economy.
He ran a $12bn debt reduction agreement with international creditors, which was seen as the main achievement of President Kabila's first term in office.
But the introduction of a value-added tax earlier this year created a spike in inflation that sparked criticism inside the country.

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