Republic of Congo: Selected Issues
IMF Staff Country Reports, July 29, 2024
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- Republic of Congo: Selected Issues
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Bibliographic details
- Published: July 29, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400285165.002
Macroeconomic impacts and core findings
- The paper focuses on the macroeconomic impacts of government domestic arrears in the Republic of Congo.
- Repayment efforts have accelerated but have failed in reducing arrears stock due to the inclusion of new stock of arrears.
- Authorities have intensified mitigating efforts including improving fiscal space to accelerate repayment, improving debt transparency to allow for rapid recognition of arrears, and launching major reforms to improve prevention.
Policy priorities and recommendations
- Maintain the pace of reform with emphasis on:
- Further strengthening of fiscal buffers to ensure timely repayment.
- Enhance debt coverage and transparency reforms to allow a holistic view of public debt.
- Accelerating debt and PFM reforms to allow better management and control.
Institutional reforms and implementation needs
- Effective implementation of the restructuring of the debt management office is crucial.
- Critical implementation elements identified:
- Hiring of staff and their training to improve capacity.
- Operation of a new procedure manual to enhance the effectiveness of the debt management office.
Subjects and cross-cutting issues covered
- Energy subsidies
- Environment
- Expenditure
- Financial inclusion
- Financial markets
- Fuel prices
- Natural disasters
- Prices
- Revenue administration
Reference: Republic of Congo: Selected Issues, July 29, 2024.
Content in this bundle
- Republic of Congo: Selected Issues; IMF Country Report No. 24/252; June 24, 2024