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Title Democratic Republic of the Congo : 2015 article IV consultation: press release: staff report: and statement by the Executive Director for Democratic Republic of the Congo
Published Washington, D.C. : International Monetary Fund, ©2015

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Description 1 online resource (75 pages) : color illustrations
Series IMF country report ; no. 15/280
IMF country report ; no. 15/280.
Summary Context. Despite DRC's abundant natural resources and its robust growth and overall strong macroeconomic performance of the past five years, fiscal space remains limited and poverty widespread. While key social indicators improved, DRC will likely not achieve any of the Millennium Development Goals (MDGs) by 2015. Implementation of past policy recommendations was broadly satisfactory, but progress on critical structural reforms has stalled. DRC remains a fragile country with vulnerabilities on the rise. Outlook and risks. The outlook is favorable but vulnerable to adverse developments in commodity prices and spending pressures in the period leading to the 2016 presidential elections. A low foreign exchange reserves cushion leaves the economy vulnerable to external shocks. In addition, continued delays in adopting some economic legislations and lingering insecurity in parts of the country are also sources of risk. Key challenges. The main challenges in the short to medium term are to: (i) address competing demands given the limited budget resources in 2015-16, (ii) build more buffers to withstand possible shocks from both external and domestic sources, (iii) diversify the economy and make it more inclusive, and (iv) maximize the benefits to the population of natural resources exploitation. Policy recommendations. The authorities are urged to move swiftly to meet these challenges in order to preserve the hard-won gains and address rising inequality. In particular, they need to: (i) step up domestic revenue mobilization, (ii) reinforce the de-dollarization process and accumulate more international reserves; (iii) remove bottlenecks to private sector activity, (iv) strengthen governance and enhance transparency in the management of natural resources, and (v) implement the measures identified in the 2014 Financial Sector Assessment Program (FSAP) aimed at promoting both the soundness and inclusiveness of the financial system
Notes "October 2015."
Bibliography Includes bibliographical references
Notes Online resource; title from pdf title page (IMF Web site, viewed October 16, 2015)
Subject International Monetary Fund -- Congo (Democratic Republic)
SUBJECT International Monetary Fund fast
Subject Economic development -- Congo (Democratic Republic)
Mineral industries -- Congo (Democratic Republic)
Fiscal policy -- Congo (Democratic Republic)
Dollarization -- Congo (Democratic Republic)
Banks and banking, Central -- Law and legislation -- Congo (Democratic Republic)
Banks and banking -- State supervision -- Congo (Democratic Republic)
Financial risk management -- Congo (Democratic Republic)
Banks and banking, Central -- Law and legislation
Banks and banking -- State supervision
Dollarization
Economic development
Economic history
Financial risk management
Fiscal policy
Mineral industries
Budget.
Central bank.
Exchange.
Monetary fund.
Reserves.
SUBJECT Congo (Democratic Republic) -- Economic conditions. http://id.loc.gov/authorities/subjects/sh85149560
Subject Congo (Democratic Republic)
Congo, Democratic Republic of the.
Form Electronic book
Author International Monetary Fund.
ISBN 1513596667
9781513596662
ISSN 1934-7685
Other Titles Democratic Republic of the Congo, 2015 article IV consultation