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IMF paper highlights extent and cost of Congo-B corruption

Even while the International Monetary Fund (IMF) executive board was praising the Brazzaville authorities’ commitment to reform, a recent IMF working paper underlined the extent of governance problems. Macro-Fiscal Gains from Anti-Corruption Reforms in the Republic of Congo, published on 3 June, observes that annual crude output was estimated at 86m bbls/yr between 1990 and 2018, making Congo sub-Saharan Africa’s third largest oil producer, but “oil revenue management and public investment spending occurred in a context where corruption is perceived to be prevalent as measured by a range of internationally recognised indicators relative to other countries in the SSA regions”.

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