This Selected Issues paper analyzes macrofinancial linkages in Equatorial Guinea. Insufficient fiscal consolidation in response to falling oil prices and production has translated into arrears accumulation, leading to a sharp deterioration in commercial banks' balance sheets. Although banks'...

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...

On May 10, 2018, the IMF approved a Staff-Monitored Program (SMP) for Equatorial Guinea, covering the period January-July 2018. The SMP will help in building an adequate track record of performance for a potential IMF-supported program. The SMP aims to reduce further the fiscal deficit, increase...

In May 2018, the IMF's Management approved a 7-month Staff-Monitored Program (SMP), covering the period January 1-July 31, 2018. The main fiscal objectives of the SMP are to (i) reduce the budget deficit through non-hydrocarbon revenue mobilization and expenditure reduction while protecting...