President Mobutu Sese Seko ruled the Congo from 1965 to 1997, during which time he used the Congolese coinage system for his own political purposes. In 1965, President Mobutu introduced the Zairean franc, which replaced the former Belgian-Congolese franc. The Zairean franc was immediately devalued to reduce the country's cash shortage. President Mobutu then began using the Zairean franc to create his own political representation. In 1971, President Mobutu announced that the new name of the Democratic Republic of the Congo would be Zaire. At the same time, the Zairean franc was renamed to Zaires. Zairean banknotes and coins began to be decorated with portraits and mottos of President Mobutu. President Mobutu also used the Zairean coinage to finance his own corruption regime. The production of Zairean banknotes and coins brought significant sums of money to the government, which President Mobutu often used for his own purposes. After the fall of President Mobutu in 1997, the Zairean minting system collapsed. The Zaire of Zaire was banned and replaced by the Congolese franc. President Mobutu's coinage had many negative consequences for the Congo. Zaire's coinage system caused inflation and economic crisis in the country. And the production of Zaires notes and coins diverted significant sums of money from the Congolese government, which were used for corruption rather than development.