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International Monetary Fund. Legal Dept. and International Monetary Fund. Fiscal Affairs Dept.
At the request of His Excellency the President of the Republic and Head of State, the Legal (LEG) and Fiscal Affairs (FAD) Departments of the IMF conducted an assessment of governance and corruption mission in Kinshasa, Democratic Republic of the Congo (DRC) from December 9 to 20, 2019 (the “mission”).1 The objectives of the mission were to discuss with the authorities (i) a diagnostic of governance issues in the DRC; and (ii) to articulate measures to help improve governance and the fight against corruption.
International Monetary Fund. Legal Dept. and International Monetary Fund. Fiscal Affairs Dept.
At the request of His Excellency the President of the Republic and Head of State, the Legal (LEG) and Fiscal Affairs (FAD) Departments of the IMF conducted an assessment of governance and corruption mission in Kinshasa, Democratic Republic of the Congo (DRC) from December 9 to 20, 2019 (the “mission”).1 The objectives of the mission were to discuss with the authorities (i) a diagnostic of governance issues in the DRC; and (ii) to articulate measures to help improve governance and the fight against corruption.
International Monetary Fund. African Dept.
This Selected Issues paper focuses on macro-critical issues related to governance and corruption in Democratic Republic of the Congo (DRC). Third-party indicators suggest that governance has been poor and corruption widespread in the country. Conducting an audit of the civil service and improving the transparency of its remuneration system, simplifying tax payment processes, and merging the activities of the numerous revenue agencies would boost public efficiency and improve the business environment. Contract enforcement and protection of property rights could be enhanced by insulating the courts from external influence. Limited information on the budget annexes and special accounts and little or no oversight by the central government, Parliament, and civil society, create scope for corruption. The multiplicity of special taxes and fees, some accruing to special accounts outside the Treasury, generate opportunities for corruption and informalization of economic activity. Despite some progress in strengthening public financial management, budget execution remains deficient. The government has formalized the four stages of the expenditure chain and introduced budget commitment plans to align expenditures with revenues.
International Monetary Fund. African Dept.
This paper discusses Guinea’s 2016–20 National Economic and Social Development Plan (PNDES). The PNDES represents the second generation of planning under the Third Republic, after the 2011–15 Five-Year Plan. Through the 2016–20 PNDES, the authorities intend to address the various development challenges posed by the socioeconomic and environmental situation while ensuring post-Ebola public health surveillance and alignment with international development agendas. The principal beneficiaries of the PNDES are the Guinean populations, but particularly poor and vulnerable groups, the government itself, the private sector, and the regions, including urban and rural areas.
International Monetary Fund. African Dept.
This Selected Issues paper takes stock of poverty in the Democratic Republic of the Congo (DRC). Poverty has receded in the DRC over the last decade on the back of gradual stabilization in the security and political situation, strong economic growth, and sharp decline in inflationary pressures. Most social indicators also improved during the period. However, poverty remains pervasive with a level still among the highest in sub-Saharan Africa, and DRC will likely not achieve any of the Millennium Developments Goals by 2015. Policy actions should focus on fostering the development of labor-intensive sector, increasing social spending, and redirecting public resources to the poorest regions of the country.
Mr. Emmanuel Mathias and Bert Feys
The trade in precious metals and stones has been linked to illicit financial flows, corruption, smuggling, drug trafficking, illicit arms trafficking, and the financing of terrorism. In addition, the extraction of precious minerals and the subsequent trade in these resources, if properly managed, present significant revenue opportunities, particularly for countries facing development needs. Building on staff expertise in anti-money laundering and combating the financing of terrorism (AML/CFT) and technical support and analytical advice on the management of natural resources, this note is a reference guide to aid countries in using the AML/CFT framework to help combat crime related to and affecting the precious minerals sector while raising revenue.
International Monetary Fund. African Dept.
Burkina Faso
International Monetary Fund. African Dept.
This paper presents a Joint Staff Advisory Note on Guinea’s Poverty Reduction Strategy Paper (PRSP). Baseline economic growth is projected to accelerate to 5.2 percent in 2014 and beyond, up from just under 4 percent in 2012. This projection is based on an acceleration of economic growth in the construction sector in response to massive investment outlays by mining companies. Private investment is projected to increase from 17.8 percent of GDP in 2012 to more than 40 percent in 2014. The PRSP proposes a sharp increase in funding for education as a share of total public expenditures over the PRSP period, while total fiscal resources also increase.
International Monetary Fund. African Dept.
The attached Joint Staff Advisory Note (JSAN) on the Implementation of the Poverty Reduction Strategy Paper for Guinea, prepared jointly by the staffs of the World Bank and the IMF, was distributed with the member country’s Poverty Reduction Strategy Paper (PRSP) to the Executive Boards of the two institutions. The objective of the JSAN is to provide focused, frank, and constructive feedback to the country on progress in implementing its Poverty Reduction Strategy (PRS).
International Monetary Fund. African Dept.
Poverty Reduction Strategy Papers (PRSPs) are prepared by member countries in broad consultation with stakeholders and development partners, including the staffs of the World Bank and the IMF. Updated every three years with annual progress reports, they describe the country’s macroeconomic, structural, and social policies in support of growth and poverty reduction, as well as associated external financing needs and major sources of financing. This country document for Guinea, dated May 2012 is being made available on the IMF website by agreement with the member country as a service to users of the IMF website.