Republic of Equatorial Guinea: Third Review under the Staff-Monitored Program-Press Release; and Staff Report
IMF Staff Country Reports, February 6, 2026
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- Republic of Equatorial Guinea: Third Review under the Staff-Monitored Program-Press Release; and Staff Report
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Bibliographic details
- Published: February 6, 2026
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229037976.002
Summary
- The return to a secular decline in hydrocarbon production after a brief respite during the 2022 energy boom is again straining fiscal and external accounts.
- Boosting non-hydrocarbon growth is identified as key to delivering a diversified, inclusive and balanced economy.
- Fund Management approved a 12-month extension of the Staff Monitored Program (SMP) in June 2024 to establish the reform track record required for a potential IMF financing arrangement.
Major findings and risks
- Hydrocarbon production: A secular decline resumed after the 2022 energy boom, placing renewed strain on fiscal and external accounts.
- Diversification imperative: Accelerating non-hydrocarbon growth is central to achieving a diversified, inclusive and balanced economy.
- Program timeline risk: The extension of the SMP by 12 months in June 2024 reflects the need for additional time to build reform credibility prior to potential IMF financing.
Policy implications and recommendations
- Priority: Boost non-hydrocarbon growth to reduce vulnerability to hydrocarbon production declines.
- Reform sequencing: Use the 12-month SMP extension to establish the reform track record required for a potential IMF financing arrangement.
- Fiscal and external management: Address strains on fiscal and external accounts stemming from hydrocarbon production dynamics (implicit recommendation based on findings).
Content in this bundle
- Republic of Equatorial Guinea — Third Review Under the Staff Monitored Program