The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This paper reviews the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative of the Republic of Congo. Emerging from a conflict situation, and starting from a low base, Congo has made significant progress in implementing financial and structural reforms, but large challenges remain. The overall improving political and security conditions allowed the authorities to make good progress toward restoring macroeconomic and financial stability. Debt relief under the enhanced HIPC Initiative would reduce Congo's external debt by nearly one-half.