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Congo Republic

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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.
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Document Type: Review Article

Publication date: May 1, 2008

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