Republic of Equatorial Guinea: 2006 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Equatorial Guinea
International Monetary Fund, Jun 21, 2006 - Business & Economics - 59 pages
Equatorial Guinea’s macroeconomic performance in the recent period has been broadly satisfactory. Despite the macroeconomic environment, however, progress in alleviating poverty and meeting the MDGs has been slow. Executive Directors welcome the government’s intention to prepare a National Poverty Reduction Strategy. In the meantime, the budget process needs to be modified. The pegged exchange rate regime has served Equatorial Guinea well, providing an anchor to hold down inflation and a positive influence on investors’ confidence. The data provided by Equatorial Guinea are broadly adequate for surveillance.
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advisors African Development Bank Amortization areas Article IV consultation Baseline BEAC billions of CFA CEMAC CFA francs conducted a diagnostic country’s creditors Current account balance Current expenditure Data provided deﬁcit diagnostic mission domestic Equatoguinean authorities Equatorial Guinea estimates and projections Excluding oil revenues external debt Extractive Industries Transparency Financial ﬁscal fiscal policy foreign assets framework grants cash basis hydrocarbon implementation improve income Industries Transparency Initiative inﬂation inﬂows interest rate International Monetary Fund lending loans long-term public debt macroeconomic MDGs medium-term Memorandum items Methanol millions ofU.S Net present value nominal interest rate non-oil GDP Non-oil overall Non-oil revenue offshore deposits oil price Overall balance Paris Club percent of GDP percentage change Petroleum sector poverty Proj provided by Equatoguinean ratio real GDP growth Revenue and grants SDR Million shock staff estimates staff projections statistics technical assistance U.S. dollars unless otherwise speciﬁed urged the authorities World Bank World Bank Group