Central Bank Governor Defends DRC Eurobond Strategy Amid Debt Cost Debate

Kinshasa, August 15, 2026 - Central Bank of Congo Governor Andre Wameso defended the Democratic Republic of the Congo's first international Eurobond, arguing that public borrowing should be judged by long-term investment returns rather than short-term disbursement speed.

The DRC raised $1.25 billion on April 9, 2026, through two tranches: $600 million at 8.75% and $650 million at 9.50%. The proceeds are intended to finance infrastructure and energy projects.

Wameso said decisions on how the funds are used fall under the government's authority, not the central bank's. He nevertheless argued that debt is not inherently harmful when used to defend the country or invest for future generations.

The remarks followed criticism that if only $650 million is used in 2026, the remaining $600 million could sit unallocated while still carrying financing costs. Wameso responded that the bonds have five- and ten-year horizons and that the DRC remains among the least indebted countries in the world.

The debate is important for investors because the Eurobond is a benchmark for DRC sovereign risk, fiscal credibility and the government's ability to turn external borrowing into bankable infrastructure and energy delivery.