This Selected Issues paper on the Republic of Congo analyzes the challenges of sustainable growth in the Republic of Congo. The paper highlights that it is paramount for the authorities to avoid repeating the experience of the 1980s, particularly in light of the projected decline in oil production over the next decade. It proposes a macroeconomic policy strategy that takes advantage of this unique opportunity to foster higher sustainable growth. The paper also provides a summary of various recent assessments of the quality of the Congo's public financial management system.
This Selected Issues paper and Statistical Appendix reviews developments in the energy sector of the Republic of Trinidad and Tobago during 1997–99, and assesses the outlook for energy-related industries. The paper highlights that in 1998, the decline of mature fields was exacerbated by the low price of oil experienced during the year, which made exploitation of some fields uneconomic. The paper examines the fiscal sustainability of energy resources. It also analyzes trade liberalization that has been an integral part of Trinidad and Tobago’s efforts to restructure its economy for sustained growth.
This paper provides an analysis of important factors that have affected the Angolan economy in recent years. The paper summarizes political developments since 1992 and provides an overview of developments in each major sector of the economy. The paper surveys the trade regime and reform priorities affecting it, summarizes available information on poverty, and describes issues affecting development of the diamond sector, formerly a mainstay of the Angolan economy. The paper also provides a technical analysis of the authorities’ current monetary rule, and a summary of the tax system.
International Monetary Fund. External Relations Dept.
This paper reviews the 1975 Annual Meetings of the Boards of Governors of the IMF and the World Bank that were held in Washington, D.C., from September 1–5. The paper highlights that three separate but related themes dominated the discussion at the Annual Meetings. The first was the need to combat recession without aggravating inflation. The second was the immediate needs of developing countries in the present situation. And the third was the urgency of making further progress toward reform of the international monetary system.