Equatorial Guinea: Staff Report for the 2003 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2003 Issue 385

Publication date: December 2003

ISBN: 9781451815924

$20.00

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Topics covered in this book

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Banks and Banking , Money and Monetary Policy , Public Finance , Taxation - General , Industries - Energy , ISCR , CR , staff appraisal , government , increase in capital capital outlay , IMF staff representative , oil company GEPetrol , government management , government deposit , Oil , gas and mining taxes , Oil sector , Reserve assets , Credit , Sub-Saharan Africa

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Grenada

Peru

Nepal

Republic of Congo : 2001 Article IV

Summary

The discussions for the 2003 Article IV Consultation with Equatorial Guinea were conducted in Malabo and Bata. Executive Directors expressed concern about the continued weakness in economic policy performance, macroeconomic management, and governance. The authorities agreed that Equatorial Guinea's medium-term economic outlook was favorable, provided that sound economic management was put in place and maintained. The macroeconomic stability needed to be complemented by a number of structural reforms to foster non-oil growth. The recently established government-owned oil company (GEPETROL) has initiated some operations.