IMF Staff Country Reports

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

July 29, 2024

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International Monetary Fund. African Dept. "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", IMF Staff Country Reports 2024, 251 (2024), accessed November 23, 2024, https://doi.org/10.5089/9798400284984.002

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Summary

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.

Subject: Arrears, External debt, Fiscal policy, Fiscal stance, Public debt, Revenue administration

Keywords: Africa, Arrears, Central Africa, Congo poverty assessment, Congolese authorities, Debt management office, Development agenda, Fiscal consolidation effort, Fiscal stance, Global, Republic of Congo urbanization Review

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