Republic of Congo 2012 Article IV consultation, staff report, public information notice on the Executive Board discussion, and statement by the Executive Director for the Republic of Congo (International Monetary Fund, 2012)
Title from PDF title page (IMF Web site, viewed Oct. 15, 2012). - "October 2012.". - "June 8, 2012"--p. 2 of pdf
Title from p. 2 of pdf: Republic of Congo, staff report for the 2012 Article IV consultation
The key issue facing Congo is how to use oil and mineral resources effectivelyin support of inclusive growth. Economic conditions are supportive--macroeconomicstability is in place, the terms of trade are favorable, and the external position is strong. External risks are mitigated by membership in CEMAC, under which all membersbenefit from the French convertibility guarantee, and large fiscal buffers. Yet, growthhas not been inclusive. Over half of the population lives in poverty and a labor skillsmismatch results in high unemployment and underemployment, especially among youth. The difficult