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International Monetary Fund. African Dept.
This Selected Issues paper focuses on macro-critical issues related to governance and corruption in Democratic Republic of the Congo (DRC). Third-party indicators suggest that governance has been poor and corruption widespread in the country. Conducting an audit of the civil service and improving the transparency of its remuneration system, simplifying tax payment processes, and merging the activities of the numerous revenue agencies would boost public efficiency and improve the business environment. Contract enforcement and protection of property rights could be enhanced by insulating the courts from external influence. Limited information on the budget annexes and special accounts and little or no oversight by the central government, Parliament, and civil society, create scope for corruption. The multiplicity of special taxes and fees, some accruing to special accounts outside the Treasury, generate opportunities for corruption and informalization of economic activity. Despite some progress in strengthening public financial management, budget execution remains deficient. The government has formalized the four stages of the expenditure chain and introduced budget commitment plans to align expenditures with revenues.
International Monetary Fund. Statistics Dept.
This paper discusses the report on Botswana by technical assistance mission conducted in response to a request from Statistics Botswana (SB) to assist with updating the consumer price index (CPI) and to review progress with the development of the producer price index (PPI). SB has compiled a draft PPI for mining and quarrying and plan to disseminate these data in September 2019. Further work to expand PPI coverage has been slower than anticipated for a number of reasons, including: data from the 2017 census of economic activity are still not available; resources diverted to support updating the CPI; and issues with the collection of price data. Improvements were identified in the compilation of the mining PPI. The report highlights that whilst the staff clearly show the capability for developing price indexes, they are limited by the amount of resource available with which to develop and disseminate indexes. SB management should carefully review the staff and budgetary resources needed to continue a program of development for PPI and ongoing improvement of the CPI.
Mr. Jack Calder


This handbook is one of the first of its kind to focus attention on effectively administering revenues from extractive industries. It provides policymakers and officials in developing and emerging market economies with practical guidelines to establish a robust legal framework, organization, and procedures for administering revenue from these industries. It discusses transparency and how to promote it in the face of increasing demands for clarity and how developing countries can strengthen their managerial and technical capacity to administer these revenues.

International Monetary Fund
This Selected Issues paper and Statistical Appendix on Botswana underlies that diamond reserves are not adequate to generate enough permanent revenue to support the current level of expenditure. Despite strong overall growth, in Botswana, a pattern of dependence on diamond revenue and high unemployment persists. Botswana, as a typical small open economy, is closely linked to a large neighboring economy. This linkage means Botswana’s monetary and exchange policies must consider the external economic environment, particularly the pula’s exchange rate against the rand.
International Monetary Fund
This Selected Issues paper analyzes recent developments in the financial system of the Democratic Republic of the Congo (DRC). It describes the monetary developments in 2003–05 and reform of the financial system. The paper examines the impact of monetary and exchange rate policies on inflation, including the nature of the lags involved. It reviews developments in the DRC’s mining sector and mining’s contribution to the economy from a fiscal perspective, showing a low effective level of taxation. The paper also discusses restructuring of the mining sector.
Mr. Matthias Vocke and Nienke Oomes
This paper provides an overview of diamond mining in sub-Saharan African countries, and explores the reasons for substantial differences in their tax rates and fiscal revenues from the sector, which mainly arise from differences in the incentives for smuggling. In a theoretical model, we show that optimal diamond tax rates increase with the degree of competition among diamond buyers, as well as with the corporate share of diamond production, which is confirmed by the data. We then discuss policies to increase revenue, including by enhancing mining productivity, stimulating the exploration of new areas, reducing barriers to entry, and attracting investment into value-adding downstream operations.
International Monetary Fund
This Selected Issues paper and Statistical Appendix analyzes economic developments in Botswana during the 1990s. The paper analyzes the growth process during 1982/83–1996/97 by assessing the contribution of capital, labor, and technological progress, both at the macroeconomic and sectoral levels. The paper examines the diversification initiatives undertaken by Botswana and the extent to which diversification and employment creation have been achieved. It provides the background to the unemployment problem, and summarizes Botswana’s policy initiatives to diversify and create sustainable employment.