Republic of Congo : Staff Report for the 2012 Article IV Consultation

Publication Date: October 12, 2012
Electronic Access: Free Full text (PDF file size is 938KB).
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Summary: The key issue facing Congo is how to use oil and mineral resources effectively in support of inclusive growth. Economic conditions are supportive--macroeconomic stability is in place, the terms of trade are favorable, and the external position is strong. External risks are mitigated by membership in CEMAC, under which all members benefit from the French convertibility guarantee, and large fiscal buffers. Yet, growth has not been inclusive. Over half of the population lives in poverty and a labor skills mismatch results in high unemployment and underemployment, especially among youth. The difficult business climate holds back diversification. On March 4, 2012 a munitions depot exploded in Brazzaville causing death and destruction; near-term policies focus on reconstruction and addressing the humanitarian crisis.
Series: Country Report No. 12/283
Subject(s): Article IV consultation reports | Economic growth | Fiscal policy | Budgets | Labor markets | Global competitiveness | Central African Economic and Monetary Community | Economic indicators | Staff Reports | Public information notices | Republic of Congo

Notes Also available in French
Publication Date: October 12, 2012
ISBN/ISSN: 9781475512830/1934-7685 Format: Paper
Stock No: 1COGEA2012003 Pages: 59
US$18.00 (Academic Rate:
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