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Africa > Congo, Republic of

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Cover IMF Staff Country Reports
Kyrgyz Republic: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
Selected Issues
Keywords:
climate change prospects in the Kyrgyz Republic; poverty in the Kyrgyz republic; developments in poverty; inclusion indicator; climate change policy; SSNS poverty mitigation effect; poverty rates in the Kyrgyz Republic; Climate change; Social assistance spending; Greenhouse gas emissions; Climate policy; Global; Central Asia; Middle East and Central Asia; Central and Eastern Europe; Europe
Cover IMF Staff Country Reports
Republic of Congo: Second Review under the Three-year Extended Credit Facility Arrangement, Requests for Modification and Waivers of Nonobservance of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Congo
International Monetary Fund. African Dept.
Strengthened economic recovery remains fragile amid high food inflation, driven by increased import costs following Russia’s war in Ukraine. High global oil prices are benefitting the Congo’s crude oil exports but higher refined fuel import costs were subsidized by the government, widening the 2022 non-oil fiscal deficit. Sustained reform efforts are needed for economic diversification, which would reduce Congo’s fragilities, create jobs, and raise incomes. Debt remains sustainable but classified as “in distress” due to arrears; a financing assurances review was conducted. The first review of the three-year Extended Credit Facility (ECF) arrangement (SDR 324 million, 200 percent of quota) was concluded by the IMF Executive Board on June 24, 2022.
Keywords:
IMF TA; PC table; quantitative Performance Criteria; overburdened staff; reorganization of the CCA; Arrears; Fiscal stance; Oil, gas and mining taxes; Global
Cover IMF Staff Country Reports
Republic of Congo: Poverty Reduction and Growth Strategy
International Monetary Fund. African Dept.
The 2022-2026 NDP is based on the tradition of development planning in the Congo and on the President of the Republic's social project, "Together, let us continue the march". This project reflects a vision of the process of building a society that ensures social progress for all, in solidarity and peace, through the creation of conditions for inclusive growth, based on a strong economy.
Keywords:
poverty rate; NDP financing plan; NDP scenario; NDP project; NDP objective; Infrastructure; Global; Central Africa; Africa; Sub-Saharan Africa
Cover IMF Staff Country Reports
Central African Economic and Monetary Community: Staff Report on the Common Policies of Member Countries, and Common Policies in Support of Member Countries Reform Programs-Press Release; Staff Report; and Statement by the Executive Director
International Monetary Fund. African Dept.
CEMAC is broadly benefiting from the positive terms of trade shock amidst the fallout from Russia’s war in Ukraine. Post-pandemic economic recovery is taking hold, albeit slowly, supported by high oil prices and the lifting of COVID-19 containment measures. External reserves have started to build up, though still short of the desired level, owing in part to costly untargeted energy and food subsidies. Global inflation pressures have passed through to domestic prices, putting pressure on real incomes. Rebuilding buffers and sustaining a recovery that protects the most vulnerable will require stricter adherence to budget and reform plans consistent with Fund-supported programs and policy advice; this will ensure that part of the oil windfall is saved. Implementation of these policies in current favorable conditions is critical to strengthening resilience in the face of rising risks, including most notably to food security, debt vulnerabilities, and tightening of global financial conditions.
Keywords:
CEMAC authorities; IMF article; CEMAC country; consultation discussion; CEMAC member country; Oil prices; Inflation; Fiscal stance; Liquidity; Global