Congo
CONGO SUFFERED ENORMOUS DAMAGE during successive civil wars (especially between 1993 and 1999) but the oil sector, mainly-offshore, was spared. The fighting greatly increased poverty and the government became heavily indebted, in particular by mortgaging its oil resources. Since the end of the war in 1999 and elections in 2002, the economy has experienced a solid revival and growth should accelerate...
THE DEMOCRATIC REPUBLIC OF CONGO (DRC) has one of the richest natural resource endowments in the world, with mining, forestry and hydro-electric sectors offering enormous growth potential. The domestic market is considerable, as the country has a population of more than 50 million, but ten years of war have devastated its economy, infrastructure and social fabric. During this period of conflict, more than 3 million people died, the incidence of HIV/AIDS soared and...
Après plusieurs décennies de guerres et d’instabilité politique, les défis auxquels la République démocratique du Congo (RDC) se trouve confrontée sont manifestes. Comme dans la plupart des situations de post-conflit, la reconstruction, la réhabilitation et la reprise du fonctionnement de l’économie dans son ensemble nécessitent un nombre très important de réformes, des moyens financiers colossaux et la mise en place d’un système transparent et de bonne gouvernance. Dans le même temps, les lobbies et groupes de pression politiques sont encore très présents.
Après plus d'une décennie d’instabilité politique et de conflits armés sporadiques, la reconstruction se poursuit au Congo. Les dégâts causés par la guerre civile, qui a ravagé la capitale Brazzaville et la région du Pool à plusieurs reprises entre 1997 et 2003, sont énormes et vont s’ajouter aux conséquences néfastes d’une mauvaise gestion des ressources publiques pendant de nombreuses années. Le bilan, après la dernière explosion de violence en 2003, est celui d’un pays appauvri, très endetté, et dont le développement économique est lourdement entravé par l’inadéquation et la vétusté de toutes ses infrastructures, ainsi que par un déficit important de capacités.
Reconstruction is underway in Congo after more than a decade of political instability and sporadic armed conflicts. The enormous damage wreaked by the civil war, ravaging the capital, Brazzaville, and the Pool region several times between 1997 and 2003 is compounded by the harmful effects of many years of poor public-resource management. The balance after the last outbreak of violence in 2003 is one of a country that is impoverished and heavily in debt, and the economic development of which is immensely hampered by inadequate and outdated infrastructure of all kinds and an important deficit in capacities.
After several years of war and political instability, the challenges with which the Democratic Republic of Congo (DRC) is confronted are manifest. As is generally the case in post-conflict situations, reconstruction, rehabilitation and resumption of the functioning of the wider economy require a very great number of reforms, colossal financial resources and the establishment of transparent management systems and good governance. At the same time, lobbies and political pressure groups are still very much present.
IN 2007, THE COUNTRY RECORDED economic growth of 6.2 per cent, lower than the objective of 6.5 per cent but higher than the rate of 5.1 per cent rate posted in 2006. A faster growth rate is forecast for 2008 and 2009.
ALTHOUGH THE DAMAGE CAUSED by recurrent civil wars is still evident, the Republic of Congo has reached a crossroads. Skyrocketing oil prices and the prospect of debt relief under the augmented Heavily Indebted Poor Countries (HIPC) Initiative have created favourable financial conditions for greater sustainable growth over the medium term as well as for achieving the Millennium Development Goals (MDG). Still, rapid growth and high levels of government expenditure in the context of low absorptive and administrative capacity risk compromising macroeconomic stability, the sustainability of public finances and foreign competitiveness.
Congo, Dem. Rep.: Real GDP Growth and Per Capita GDP (USD/PPP at current prices) appears in African Economic Outlook 2009.
Congo, Dem. Rep.: Stock of Total External Debt (percentage of GDP) and Debt Service (percentage of exports of goods and services) appears in African Economic Outlook 2009.
Congo, Rep.: Current Account (percentage of GDP at current prices) appears in African Economic Outlook 2009.
Congo, Dem. Rep.:Current Account (percentage of GDP at current prices) appears in African Economic Outlook 2009.
Congo, Rep.: Public Finances (percentage of GDP at current prices) appears in African Economic Outlook 2009.
Congo, Rep.: Stock of Total External Debt (percentage of GDP) and Debt Service (percentage of exports of goods and services) appears in African Economic Outlook 2009.
Congo, Rep.: Real GDP Growth and Per Capita GDP (USD/PPP at current prices) appears in African Economic Outlook 2009.
Congo, Dem. Rep.: Public finances (percentage of GDP in current prices) appears in African Economic Outlook 2009.