Republic of Equatorial Guinea: Staff-Monitored Program

IMF Staff Country Reports, June 4, 2018

Source details

IMF approved a Staff-Monitored Program (SMP) for Equatorial Guinea on May 10, 2018, covering the period January–July 2018.
Purpose: help build an adequate track record of performance for a potential IMF-supported program.
Key aims:
- reduce further the fiscal deficit
- increase non-oil revenue
- address critical public financial management weaknesses, while protecting social spending
- improve the business climate and foster economic diversification
- lay the basis for improving governance and transparency in public administration and the hydrocarbon sector
- provide a framework to strengthen public sector capacity through technical assistance provided by the IMF

Fiscal consolidation:
- focus on reducing the fiscal deficit (no numeric target specified on the page)
Revenue:
- emphasis on increasing non-oil revenue
Public financial management (PFM):
- address critical PFM weaknesses while protecting social spending
Governance and transparency:
- measures aimed at improving governance and transparency in public administration and in the hydrocarbon sector

Business climate and diversification:
- envisaged measures to improve the business climate and foster economic diversification
Technical assistance:
- IMF technical assistance to strengthen public sector capacity

Subjects: Arrears, External debt, Fiscal policy, Fiscal stance, Public debt, Public financial management (PFM), Revenue administration
Keywords: Africa, Arrears, broad money, CR, debt ratio, Fiscal stance, Global, ISCR, managing director of the International Monetary Fund, objectives of the SMP, oil-price shock, SMP

Republic of Equatorial Guinea: Staff-Monitored Program; IMF Staff Country Report No. 2018/146; June 4, 2018.