Republic of Equatorial Guinea: 2022 Article IV Consultation—Press Release; Staff Report; And Statement By The Executive Director for Republic of Equatorial Guinea

August 3, 2022

Preview Citation

Format: Chicago

Republic of Equatorial Guinea: 2022 Article IV Consultation—Press Release; Staff Report; And Statement By The Executive Director for Republic of Equatorial Guinea, (USA: International Monetary Fund, 2022) accessed November 21, 2024

Also available in: español

Summary

The COVID-19 pandemic in 2020-21, and Bata explosions in 2021, struck oil-exporter Equatorial Guinea at a time when its economic vulnerabilities had already been aggravated by a prolonged period of depressed hydrocarbon prices, and seven consecutive years of decline in real GDP. The economy is slowly emerging from the ravages of the 2020-21 shocks, buoyed by higher international oil prices. However, substantial challenges remain: (i) surging food prices and banking sector vulnerabilities cloud the short term, while (ii) declining hydrocarbon productionand the implied decline in external reservesloom over the medium term, especially in light of lagging governance and diversification reform implementation.

Subject: Economic and financial statistics, Expenditure, External debt, Financial institutions, International organization, Monetary policy, Prices, Revenue administration

Keywords: Africa, Arrears, Asset declaration, Audit report, Commercial banks, Energy subsidies, Equatorial Guinea's NFA, External sector statistics, Global, Gradual ease, Headline inflation, Oil prices

Publication Details

Pages:

102
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2022/267
Stock No:

1GNQEA2022001
ISBN:

9798400216718
ISSN:

1934-7685

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