Republic of Equatorial Guinea: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Equatorial Guinea

February 7, 2024

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Format: Chicago

Republic of Equatorial Guinea: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Equatorial Guinea, (USA: International Monetary Fund, 2024) accessed December 22, 2024

Also available in: español

Summary

Equatorial Guinea’s macroeconomic situation has deteriorated over the last decade due to a secular decline in oil production. In 2022, economic indicators improved somewhat. However, this recovery was short-lived, with the economy projected to fall back into recession in 2023. In the years ahead, the economy would contract further. Without strong policy responses, all the gains in per capita income achieved over the last two decades are expected to fully unravel by 2028. The three-year Extended Fund Facility (EFF) approved in 2019 to support the authorities’ diversification agenda expired at end-2022 without a single completed review. The authorities have nonetheless continued to implement reforms delayed under the program as well as the 2022 Article IV Consultation recommendations.

Subject: Commercial banks, Economic and financial statistics, External sector statistics, Financial institutions, Fiscal policy, Fiscal stance, International organization, Monetary policy, National accounts

Keywords: Commercial banks, Equatoguinean economy, Equatorial Guinea's economy, External sector statistics, Fiscal stance, Global, Governance strategy, Government arrears, Government's commitment, IMF's transparency policy, Liability positions vis-à-vis nonresident, Macroeconomic reform effort, U.S. dollar

Publication Details

Pages:

79
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/025
Stock No:

1GNQEA2024001
ISBN:

9798400265181
ISSN:

1934-7685

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