IMF Staff Country Reports

Republic of Equatorial Guinea: 2022 Article IV Consultation—Press Release; Staff Report; And Statement By The Executive Director for Republic of Equatorial Guinea

Publication Date:

August 3, 2022

Electronic Access:

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Summary:

The COVID-19 pandemic in 2020-21, and Bata explosions in 2021, struck oil-exporter Equatorial Guinea at a time when its economic vulnerabilities had already been aggravated by a prolonged period of depressed hydrocarbon prices, and seven consecutive years of decline in real GDP. The economy is slowly emerging from the ravages of the 2020-21 shocks, buoyed by higher international oil prices. However, substantial challenges remain: (i) surging food prices and banking sector vulnerabilities cloud the short term, while (ii) declining hydrocarbon productionand the implied decline in external reservesloom over the medium term, especially in light of lagging governance and diversification reform implementation.

Series:

Country Report No. 2022/267

Subject:

Economic and financial statistics Expenditure External debt Financial institutions International organization Monetary policy Prices Revenue administration

Frequency:

regular