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Le seuil de la dette publique en République Démocratique du Congo : contraintes conjoncturelles et impératif de soutenabilité pour le financement du développement
[The public debt threshold in the Democratic Republic of the Congo: cyclical constraints and the imperative of sustainability for development financing]

Author

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  • K. MUYA, Jonathan

Abstract

The Democratic Republic of Congo (DRC) faces a structural paradox: a massive need for financing to support its economic and social development, in a context of limited domestic resource mobilization capacity. Public borrowing therefore appears to be an unavoidable lever to bridge the financing gap. However, the accumulation of debt is not neutral with respect to the effectiveness of economic policies, particularly countercyclical policies. This article analyzes the existence of critical public debt thresholds in the DRC beyond which borrowing no longer supports growth and instead weakens the effectiveness of macroeconomic instruments. Using a threshold effects approach applied to Congolese macroeconomic data, the study identifies two major thresholds (32% and 110% of GDP) and draws strong implications for the development financing strategy and debt sustainability.

Suggested Citation

  • K. MUYA, Jonathan, 2026. "Le seuil de la dette publique en République Démocratique du Congo : contraintes conjoncturelles et impératif de soutenabilité pour le financement du développement [The public debt threshold in the Democratic Republic of the Congo: cyclical constra," MPRA Paper 128137, University Library of Munich, Germany, revised 23 Feb 2026.
    • Handle: RePEc:pra:mprapa:128137
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    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2010. "Growth in a Time of Debt," American Economic Review, American Economic Association, vol. 100(2), pages 573-578, May.
    2. Jaejoon Woo & Manmohan S. Kumar, 2015. "Public Debt and Growth," Economica, London School of Economics and Political Science, vol. 82(328), pages 705-739, October.
    3. Caner, Mehmet & Grennes,Thomas & Koehler-Geib, Fritzi, 2010. "Finding the tipping point -- when sovereign debt turns bad," Policy Research Working Paper Series 5391, The World Bank.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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