Republic of Congo: Enhanced Initiative for Heavily Indebted Poor Countries: Decision Point Document

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 148

Publication date: April 2006

ISBN: 9781451808605

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Topics covered in this book

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Exports and Imports , Public Finance , Taxation - General , ISCR , CR , oil revenue , Congolese authorities , public expenditure , reform program , government plan , real GDP , discount rate , public finance , private sector , CFA franc , debt management , debt agency , Debt service , Debt relief , Arrears , Global , Central Africa

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Nepal

Grenada

Republic of Congo : 2001 Article IV

Summary

This paper on the Enhanced Initiative for Heavily Indebted Poor Countries (HIPC) for the Republic of Congo explains medium-to-long-term strategy for poverty reduction. Emerging from a conflict situation, and starting from a low base, Congo has made significant progress in implementing macroeconomic, financial, and structural reforms. Debt relief under the enhanced HIPC Initiative is expected to reduce Congo’s external debt by about one-third. The authorities have emphasized that Congo’s external debt remains unsustainably high and could further delay its economic and social reform programs.