01825cas a2200265 a 4500 AALejournalIMF013973 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475516371 1018-5941 BD-DhAAL BD-DhAAL Fischer, Felix. Making Monetary Policy More Effective : The Case of the Democratic Republic of the Congo / Felix Fischer, Charlotte Lundgren, Samir Jahjah. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (31 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The paper looks at the challenges of conducting monetary policy in a context of high dollarization of the banking system and weak institutions in the Democratic Republic of the Congo. The empirical analysis confirms the limited effectiveness of the Central Bank of Congo in controlling inflation, despite a rapid policy response to inflation shocks. Options available to enhance the effectiveness of monetary policy are limited. After exploring the pros and cons of different exchange regimes we conclude that strengthening the current monetary policy framework remains the first-best option, given the country's exposure to frequent terms-of-trade shocks. Mode of access: Internet Jahjah, Samir. Lundgren, Charlotte. IMF Working Papers; Working Paper ; No. 2013/226 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/226/001.2013.issue-226-en.xml IMF e-Library