## Republic of Congo: 2008 Article IV Consultation, Requests for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries, and Financing Assurances Review: Staff Report; Staff Statement and Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Congo

_IMF Staff Country Reports, March 2, 2009_

## Source details

**Canonical URL:** [Republic of Congo: 2008 Article IV Consultation, Requests for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries, and Financing Assurances Review: Staff Report; Staff Statement and Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Congo](https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-congo-2008-article-iv-consultation-requests-for-a-three-year-arrangement-under-22747)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/republic-of-congo-2008-article-iv-consultation-requests-for-a-three-year-arrangement-under-22747/index.md)
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## Bibliographic details
- Published: March 2, 2009
- Series: IMF Staff Country Reports

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### Summary
- The staff report covers the Republic of Congo’s combined 2008 Article IV Consultation and Requests for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility.
- Authorities recognize the need to enhance external viability by:
  - improving competitiveness;
  - raising output growth through diversification;
  - consolidating the fiscal position.
- Authorities are undertaking efforts to:
  - improve the business climate;
  - liberalize trade;
  - deepen financial intermediation;
  - continue reform of public enterprises;
  - improve governance and transparency;
  - put in place development strategies in key sectors.

### Major findings and analysis
- External viability requires improvements in competitiveness and economic diversification.
- Fiscal consolidation is identified as necessary to support macroeconomic stability.
- Structural reforms emphasized include trade liberalization, financial sector deepening, and public enterprise reform.
- Governance and transparency improvements are highlighted as central to implementing development strategies.

### Policy recommendations and authorities' actions
- Consolidate fiscal position through appropriate fiscal policies (specific measures not enumerated in the page overview).
- Pursue diversification to raise output growth beyond the oil sector.
- Improve the business climate to attract investment.
- Continue reforms of public enterprises to improve performance and fiscal outcomes.
- Strengthen governance and transparency to support strategy implementation in key sectors.
- Deepen financial intermediation to support private sector development.

### Key statistics and publication metadata
- Date: March 2, 2009
- Pages: 96
- Volume: 2009
- Issue: 074
- Series: Country Report No. 2009/074
- Stock No: 1COGEA2009002
- ISBN: 9781451808681
- ISSN: 1934-7685

### Subjects and keywords
- Subjects: Commodities, Economic sectors, External debt, Oil, Oil sector, Public debt, Public financial management (PFM)
- Keywords: authority, Central Africa, Congolese authorities, CR, food price, Global, growth facility, ISCR, Oil, Oil sector, price, staff appraisal, Sub-Saharan Africa, Three-Year arrangement

*Staff report overview for Republic of Congo: 2008 Article IV Consultation and related requests (IMF Staff Country Reports 2009, 074).*

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## Content in this bundle

- **_cr0974 — Executive Summary and Selected Sections**
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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-congo-2008-article-iv-consultation-requests-for-a-three-year-arrangement-under-22747_