Press Release No. 11/234

Press Release: IMF Executive Board Concludes 2011 Article IV Consultation with Equatorial Guinea

June 14, 2011

On April 22, 2011, the Executive Board of the International Monetary Fund (IMF) concluded the 2011 Article IV consultation with Equatorial Guinea.

Under Article IV of its Articles of Agreement, the IMF has a mandate to exercise surveillance over the economic, financial and exchange rate policies of its members in order to ensure the effective operation of the international monetary system. The IMF’s appraisal of such policies involves a comprehensive analysis of the general economic situation and policy strategy of each member country. IMF economists visit the member country, usually once a year, to collect and analyze data and hold discussions with government and central bank officials. Upon its return, the staff submits a report to the IMF’s Executive Board for discussion. The Board’s views are subsequently summarized and transmitted to the country’s authorities.