Description |
1 online resource (75 pages) : color illustrations |
Series |
IMF country report ; no. 15/280 |
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IMF country report ; no. 15/280.
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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)
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SUBJECT |
International Monetary Fund fast |
Subject |
Economic development -- Congo (Democratic Republic)
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Mineral industries -- Congo (Democratic Republic)
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Fiscal policy -- Congo (Democratic Republic)
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Dollarization -- Congo (Democratic Republic)
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Banks and banking, Central -- Law and legislation -- Congo (Democratic Republic)
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Banks and banking -- State supervision -- Congo (Democratic Republic)
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Financial risk management -- Congo (Democratic Republic)
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Banks and banking, Central -- Law and legislation
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Banks and banking -- State supervision
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Dollarization
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Economic development
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Economic history
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Financial risk management
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Fiscal policy
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Mineral industries
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Budget.
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Central bank.
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Exchange.
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Monetary fund.
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Reserves.
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SUBJECT |
Congo (Democratic Republic) -- Economic conditions.
http://id.loc.gov/authorities/subjects/sh85149560
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Subject |
Congo (Democratic Republic)
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Congo, Democratic Republic of the.
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Form |
Electronic book
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Author |
International Monetary Fund.
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ISBN |
1513596667 |
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9781513596662 |
ISSN |
1934-7685 |
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