Republic of Congo: 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Congo

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 205

Publication date: June 2007

ISBN: 9781451808629

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Economics- Macroeconomics , Public Finance , Taxation - General , ISCR , CR , oil GDP growth , growth , deficit , expenditure data , consumer price inflation , staff appraisal , Congolese authorities , Oil , gas and mining taxes , Oil prices , Fiscal stance , Sub-Saharan Africa

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Summary

This 2007 Article IV Consultation highlights that the implementation of the Poverty Reduction and Growth Facility (PRGF)-supported program was broadly satisfactory for Congo in 2004–05. However, expenditure overruns and delays in structural reforms pushed the program off track in 2006. Discussions are continuing on an IMF staff-monitored program aimed at establishing a solid track record that could pave the way for resuming discussions on the PRGF-supported program. Macroeconomic performance was mixed in 2006. Real GDP growth is estimated at 6.1 percent in 2006. The outlook for 2007 and the medium term is uncertain.