Internal and External Congolese debt
Distinction
Like most African countries, the DRC has installed a system by which its national debt is divided between so called internal (domestic) or external debt.
This distinction has no legal base in DRC law, nor is such a distinction clear. A lot of debt (e.g. court decisions ruling against the state or its agencies) can be considered either internal or external debt.
The Directorate-general of Public Debt has issued a manual (Vademecum) that contains guidelines on the country's internal debt. This Vademecum is neither clear nor exhaustive.
Suspension
On February 17, 2023, the Council of Ministers simply suspended the payment of internal debt.
Nationalisation
On May 19, 2023, an attempt was made to nationalize at least part of the national internal debt. So-called internal debt was divided into claims up to 300,000 USD and claims over 300,000 USD. the first group was to be paid in full while the nominal value plus interests for the second group were frozen and to be paid over an undetermined period. Hence, claim holders over 300,000 USD were robbed from interest, effectively reducing the real value of their claim. For further details, see the minutes of the Council of Ministers as presided by the President.