How did the fall in copper prices during the 1970s affect Congo’s economy?

The fall in copper prices during the mid-1970s had a significant negative impact on the economy of the Democratic Republic of the Congo. Because the country’s formal economy was heavily dependent on mineral extraction—specifically copper—the price decline triggered audits of state-run enterprises, such as Gécamines, which revealed widespread embezzlement.1

This economic downturn occurred during the rule of Mobutu Sese Seko, whose government had increasingly integrated the economy into a personal patronage network. As productivity and export revenues declined following the price drop, the state became less able to maintain these networks, leading managers and private owners to rely on extortion and force to sustain their wealth. While international financial institutions like the International Monetary Fund and the World Bank continued to provide support to keep the economy afloat due to Mobutu's status as a Cold War ally, the mining industry continued to suffer from both low global prices and ongoing political instability.12