Republic of Congo: Review of Performance under the Staff-Monitored Program and Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility

IMF Staff Country Reports, January 10, 2005

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Reviews Congo’s Performance Under the Staff-Monitored Program (SMP) and Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility.
Improvements in the political environment and an increased focus on economic management since late 2002 have already led to stronger economic growth and lower inflation.
The 2004 SMP produced good results: all the program’s quantitative budgetary and financial indicators were met.
Major progress made in improving oil sector transparency with the widespread dissemination of information on the Internet; described as particularly noteworthy and exemplary among countries in Africa.

Political and economic management improvements since late 2002 correlated with stronger economic growth and lower inflation.
The 2004 SMP met all quantitative budgetary and financial indicators.
Oil sector transparency increased substantially through widespread Internet dissemination of information.