Republic of Congo: Staff Report-Press Release; Staff Report; Debt Sustainability Analysis, and Statement by the Executive Director for the Republic of Congo

IMF Staff Country Reports, July 24, 2019

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Canonical URL: Republic of Congo: Staff Report-Press Release; Staff Report; Debt Sustainability Analysis, and Statement by the Executive Director for the Republic of Congo

Discusses Republic of Congo’s Review Under the Extended Credit Facility (ECF).
The ECF program supports the authorities’ efforts to:
- restore fiscal sustainability,
- rebuild regional reserves,
- improve governance,
- protect vulnerable groups.
The ECF-supported program aims to:
- restore macroeconomic stability, including debt sustainability,
- lay the foundations for higher and more inclusive growth,
- improve governance to achieve greater efficiency and transparency in the management of public resources, especially in the oil sector.
The Fund-supported program is expected to contribute positively to the regional strategy and stability efforts of the Central African Economic and Monetary Union.

The Congolese authorities have stepped up efforts in 2018 and 2019 to address the economic crisis and the associated governance challenges.

Emphasizes improving governance for greater efficiency and transparency in public resource management.
Highlights special attention to governance in the oil sector.

The report highlights that it is key to promote the productivity of factor inputs by increasing investments in human capital.

Subject: Arrears, External debt, Oil prices, Oil, gas and mining taxes, Prices, Public debt, Taxes
Keywords: Arrears, authority, Central Africa, Congolese authorities, CR, debt, debt restructuring effort, ECF program, gas and mining taxes, governance, governance weakness, ISCR, Oil, Oil prices, oil revenue, renewed commitment, Sub-Saharan Africa