Freddy Matungulu

Mbuyamu Ilankir "Freddy" Matungulu was born in Lubembo, Democratic Republic of the 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 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.

Matungulu has now returned to - and currently works at - the International Monetary Fund in Washington D.C., USA.

Sources & Relevant External Links

• (French) Congolese Finance Department
• (French) Central Bank of Congo

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Name	Matungulu, Freddy
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Date of birth	1955
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