02159cas a2200253 a 4500 AALejournalIMF022237 230101c9999 xx r poo 0 0eng d 5.00 USD 9781616350666 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Republic of Congo: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Congo. French Republic of Congo : 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Congo. Washington, D.C. : International Monetary Fund, 2021. 1 online resource (104 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The COVID-19 pandemic and oil price shocks have taken a deep toll on the Congolese economy, weighing on incomes and inequality. Debt sustainability challenges precluded Fund financial assistance during the pandemic, and the Extended Credit Facility (ECF) arrangement, approved in 2019, expired in April 2021 without having completed the first review. Recently, debt sustainability has been restored owing to the authorities' debt restructuring strategy and current and projected higher oil prices. However, the risk of debt distress remains high given liquidity risks and vulnerabilities to negative oil price shocks. The authorities are actively negotiating the resolution of pending external arrears. Until this process is concluded and the negotiations with two external creditors are finalized, debt is classified as being 'in distress.' Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2021/225 Full text available on IMF http://elibrary.imf.org/view/journals/002/2021/225/002.2021.issue-225-fr.xml IMF e-Library