Republic of Equatorial Guinea: Staff-Monitored Program

Author: International Monetary Fund. African Dept.

Staff-Monitored Program

Volume/Issue: Volume 2018 Issue 146

Publication date: June 2018

ISBN: 9781484359303

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Topics covered in this book

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Exports and Imports , Economics- Macroeconomics , Public Finance , ISCR , CR , oil-price shock , SMP , managing director of the International Monetary Fund , objectives of the SMP , debt ratio , broad money , Arrears , Fiscal stance , Global , Africa

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Summary

On May 10, 2018, the IMF approved a Staff-Monitored Program (SMP) for Equatorial Guinea, covering the period January–July 2018. The SMP will help in building an adequate track record of performance for a potential IMF-supported program. The SMP aims to reduce further the fiscal deficit, increase non-oil revenue, and address critical public financial management weaknesses, while protecting social spending. The SMP also envisages measures to improve the business climate and foster economic diversification. The program will aim to lay the basis for improving governance and transparency in public administration and the hydrocarbon sector. The program will also provide a framework to strengthen public sector capacity through technical assistance provided by the IMF.