Democratic Republic of the Congo: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of the Congo

September 4, 2019

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Format: Chicago

Democratic Republic of the Congo: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of the Congo, (USA: International Monetary Fund, 2019) accessed December 22, 2024

Also available in: français

Summary

This 2019 Article IV Consultation with the Democratic Republic of the Congo (DRC) highlights that real gross domestic growth reached 5.8 percent in 2018, buoyed by stronger copper and cobalt prices and increased production. The main risks include an escalation of the Ebola epidemic; fiscal loosening leading to monetization of budget deficits; a relapse in copper and cobalt prices; an intensification of ongoing armed conflicts; and resistance to reform from vested interests. Transparency and accountability in the management of natural resources are major challenges facing DRC. It is recommended to step-up revenue mobilization, notably by simplifying taxes and integrating mining revenue into the central government Treasury. It is also important to enhance transparency, including through public tendering for the sale of mining assets, publication of audited financial statements of state-owned enterprises, and greater monitoring of public assets.

Subject: Arrears, Economic sectors, Expenditure, External debt, Mining sector, Public debt

Keywords: Africa, Annual national accounts, Arrears, Authority, Banque Centrale du Congo, Cobalt price, Congo, Congolese authorities, CR, Debt, Exports receipt, Global, Governance assessment, ISCR, Mining sector, Sub-Saharan Africa, West Africa, Western Europe

Publication Details

Pages:

74
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/285
Stock No:

1CODEA2019001
ISBN:

9781513512822
ISSN:

1934-7685

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