Republic of Congo: 2024 Article IV, Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility, Requests for Modification of Performance Criteria, Waivers of Nonobservance of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director

International Monetary Fund

No 2024/251, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Republic of Congo’s 2024 Article IV Consultation, Fifth Review under the Three-year Arrangement under the Extended Credit Facility, Requests for Modification of Performance Criteria, Waivers of Nonobservance of Performance Criteria, and Financing Assurances Review. Economic recovery continued amid challenges from inflationary pressures and an uncertain global environment. Program performance was broadly satisfactory, but structural reforms continued to experience delays. Sustained reform implementation spanning public financial and debt management, governance, and transparency will be critical to attaining higher, more resilient, and inclusive growth. The authorities are encouraged to maintain fiscal consolidation efforts. Raising financial inclusion, ensuring steadfast implementation of state-owned enterprise reforms, and adapting to risks emanating from climate change will also support inclusive and resilient growth, in particular over the medium term.

Keywords: Congolese authorities; debt management office; Congo poverty assessment; development agenda; fiscal consolidation effort; Republic of Congo urbanization Review; Arrears; Fiscal stance; Global; Africa; Central Africa (search for similar items in EconPapers)
Pages: 155
Date: 2024-07-29
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