Freddy Matungulu

Mbuyamu Ilankir "Freddy" Matungulu was born in Belgian Congo (DRC) on 4 January 1955. An economist, he was Finance Minister of the DRC in the first government appointed by young President Joseph Kabila.

In the fall of 1986, he obtained a PhD degree (Economics) at the Fletcher School, Tufts University. During 1986-92, he taught economics at the University of Kinshasa and served respectively as special advisor to the Deputy Governor of the Central Bank of Congo and chief economic advisor to the Prime Minister and to the Ministers of Economic Planning, Budget Management, Transport and Communication, and Foreign Trade.

In July 1992, Matungulu joined the staff of the International Monetary Fund (IMF) as an economist, later becoming senior economist and deputy division chief. As the IMF's resident representative in Cameroon, he supervised the successful implementation of the central African nation's ambitious economic reform program initiated in 1996, allowing Cameroon to reach the Decision Point under the Heavily Indebted Poor Countries Initiative (HIPC). From April 2001 to February 2003, he served as Finance Minister in his home country, the Democratic Republic of Congo.

Accomplishments in Government

As the head of the Finance Department of the DRC, Minister Matungulu undertook a comprehensive IMF-supported reform of the Congolese economy, drastically reducing inflation and making possible resumption of growth after a decade-long contraction of the economy.

During Matungulu's term in office, the DRC re-established co-operation with its main multilateral and bilateral development partners, including the IMF, the World Bank and the African Development Bank, all of which had deserted the country under the Mobutu regime.

Minister Matungulu resigned his ministerial position on February 17, 2003, becoming the first high level government member ever to do so without being prompted or dismissed, in the last 40 years in the Congo.

In July 2003 Matungulu resumed work at the International Monetary Fund in Washington D.C., USA. In December 2014 he took an early retirement from the IMF.

Mr. Matungulu has now returned home to the Democratic Republic of Congo where he has established a political party (CONGO NA BISO---Our Congo). He plans to run for DRC president in November 2016 when the incumbent, President Joseph Kabila, completes his second and last term in office as mandated by the DRC's constitution.

Sources & Relevant External Links

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