Equatorial Guinea: Malabo calls on IMF help


Issue 371 - 15 Jun 2018 | 2 minute read

The International Monetary Fund (IMF) on 4 June announced approval of a staff-monitored programme (SMP) for Equatorial Guinea as the country struggles to reduce its dependence on oil. The IMF said the SMP, which does not include funding, will help to build a track record of performance as the basis for a potential funded programme in H2 this year.The SMP, covering the period January-July 2018, aims to reduce the fiscal deficit, increase non-oil revenue and address public financial management weaknesses while protecting social spending.

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