Closure of exchange offices, opening of exchange offices, these are the measures that have been successively taken to make the exchange market fluid. Can we say that the bet has been won?
Mélance Maniragaba, deputy editor.
The value of the greenback once morest the BIF, especially on the black market can tell us more. While on the official exchange rate the dollar is currently selling for at least 2095 BIF, on the parallel market it is something else. Newly licensed exchange offices opt for not displaying prices and prefer to operate like the black market. On this one, the price of the dollar goes beyond 4000 BIF, an increase of more than 50%.
However, the greenback bought on the parallel market contributes to the level of exports for regarding 70%. The politician believes that to obtain it, production must be increased by investing in growth sectors such as agriculture.
Unfortunately, those who invest in this sector struggle to find not only the fertilizers, but also the selected seeds to carry out their projects.
In addition, the subsoil is very rich, another asset to boost the return of foreign currency to the country. Slogans illuminate it better “Twicaye ku gahiye” translated into French as “We are sitting on gold”. A year or more has passed and the sector remains lethargic. The authorized authorities only authorize the artisanal exploitation of gold by the cooperatives with a probability that the latter will not declare their real production.
Moreover, coffee, which once generated foreign currency, is no longer a priority for Burundian farmers. Reforms in this sector are less numerous and coffee growers continue to lose interest in it. Tea tends to dethrone coffee, but for how long. Here too, immobility seems to supplant innovation.
With this first quarter of the year, the time is no longer for trial and error. The fight once morest the currency shortage is reaching a decisive stage. The currency shortage remains a major challenge that must be met at all costs. Otherwise, prices will continue to be affected by this shortage and the rising cost of living.