Based on an assessment of external public debt indicators and given the continued buildup of external arrears, the Republic of Congo is classified as "in debt distress". Moreover, despite the recent restructuring agreement with China, public debt remains unsustainable with the net present value...

In this study, economic performance remained robust throughout the global downturn, and shows signs of further strengthening. In 2010, the external position improved significantly, as fiscal surpluses raised official foreign assets, and the Highly Indebted Poor Countries (HIPC) debt relief...

With the Heavily Indebted Poor Countries (HIPC) completion, Congo’s prospects for achieving sustained growth and poverty reduction have improved. The HIPC completion reduced debt service obligations and increased the resilience of external debt indicators to shocks. Non-oil revenue is improved...

Congo’s economic program aims to enhance macroeconomic stability and advance reforms to bolster economic management and improve the supply response of the economy. Progress in implementing the program has been affected negatively by the continuation of conflict. Fiscal policy aims at reducing...

The Growth and Poverty Reduction Strategy was implemented in an extremely challenging environment, adversely affecting the conduct of macroeconomic and sector policies. The accomplishments in regard to sector policies are highly encouraging. There was notable progress in the administration of...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

Congo’s first full Poverty Reduction and Growth Strategy underpinned the economic policy during a particularly challenging transitional period. The difficulty is in implementing the program in a rapidly evolving institutional environment. Developments during recent years demonstrate Congo’s...

This Selected Issues paper on the Republic of Congo analyzes the challenges of sustainable growth in the Republic of Congo. The paper highlights that it is paramount for the authorities to avoid repeating the experience of the 1980s, particularly in light of the projected decline in oil...

This 2007 Article IV Consultation highlights that the implementation of the Poverty Reduction and Growth Facility (PRGF)-supported program was broadly satisfactory for Congo in 2004–05. However, expenditure overruns and delays in structural reforms pushed the program off track in 2006....

This paper on the Republic of Congo’s staff-monitored program (SMP) reports that the authorities and civil society pledged to work together to make resource management more transparent. The authorities have reached understandings with IMF staff on an SMP for April-September 2007. The SMP aims...