Republic of Congo: 2013 Article IV Consultation

Author: International Monetary Fund. African Dept., International Monetary Fund. Strategy, Policy, &amp, and Review Department

Volume/Issue: Volume 2013 Issue 282

Publication date: September 2013

ISBN: 9781475547207

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Topics covered in this book

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Exports and Imports , Economics- Macroeconomics , Public Finance , Business and Economics - Statistics , Taxation - General , ISCR , CR , windowtext 0 , 1pt , GDP , solid windowtext 0 , 1pt , real GDP , IMF staff estimate , debt relief , World oil price , authorities of the Republic of Congo , oil revenue , financial situation , Oil , gas and mining taxes , Fiscal stance , Oil prices , Sub-Saharan Africa , Global , staffs IMF , Policy discussion , policy coordination

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Summary

This paper assesses the Republic of Congo’s discussions in 2013 Article IV Consultation. Though having abundance of natural resources, notably oil and iron ore, Congo has achieved limited progress in poverty alleviation, and remains vulnerable to external shocks. Weak governance and business conditions are significant constraints to private sector development and growth inclusiveness. The IMF report shows that Congo’s main challenge is to ensure long-term macroeconomic stability in the face of oil revenue volatility and exhaustibility, and to make growth more inclusive.