Republic of Equatorial Guinea: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Director for the Republic of Equatorial Guinea

International Monetary Fund

No 2016/341, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2016 Article IV Consultation highlights that Equatorial Guinea’s overall real GDP growth has been weak in recent years averaging –0.5 percent from 2010–14, largely owing to a trend decline of the dominant hydrocarbon sector. Economic performance deteriorated substantially in the wake of the 2014 oil-price shock. In 2015, the pace of the contraction intensified, and economic activity declined by 7.4 percent. The near-term outlook is very challenging, given prospects for depressed energy prices and a continued decline in hydrocarbon production. Weak oil revenues and limited buffers will require further cuts to public investment, leading to a deep contraction of the large construction sector and public administration.

Keywords: ISCR; CR; a number of IMF policy recommendation; deficit; oil-price shock; GDP; holding; balance of payments statistics mission; IMF staff estimate; Equatorial Guinea's debt; Fiscal consolidation; Balance of payments statistics; Sub-Saharan Africa; Global (search for similar items in EconPapers)
Pages: 68
Date: 2016-11-16
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