69301 REPUBLIC OF CONGO: JOINT IDA-IMF STAFF ADVISORY NOTE (JSAN) ON THE POVERTY REDUCTION, GROWTH AND EMPLOYMENT STRATEGY PAPER 2, 2012-2016 Meeting of the Executive Directors May 29, 2012 CHAIR’S SUMMING UP The Executive Directors discussed the Republic of Congo Joint IDA-IMF Staff Advisory Note (JSAN) on the Poverty Reduction, Growth and Employment Strategy Paper 2, 2012-2016 (IDA/SecM2012-0261). Directors expressed broad support for the PRSP and its alignment to the Republic of Congo’s long-term vision focused on structural transformation of the economy. They welcomed the new emphasis on the promotion of diversified, inclusive, and employment-creating growth, as well as on the equitable distribution of growth-induced benefits and security throughout the country. Directors commended the Government for the thorough and methodical analysis, but called for further strengthening of the consultation process, in particular with civil society and local communities, as well as of the macroeconomic and fiscal scenarios. Directors underscored the importance of a stronger commitment to governance and institutional capacity building, including concrete steps to increase transparency and accountability. Directors acknowledged the existence of risks to the implementation of the strategy. They underscored the need to redress the situation relating to youth unemployment and underemployment. In addition, Directors urged authorities to reinforce the implementation of the Health strategy and called for greater attention to gender issues through analysis and cross- cutting actions in all sectors. Directors encouraged the Government to work with the international community, and focus the implementation of the strategy on a realistic set of prioritized, sequenced and monitored interventions. They urged the Authorities to broaden and deepen the analytical agenda laid out in the PRSP by preparing the planned poverty trends assessment. Finally, Directors emphasized the need to create an independent PRSP consultative committee to monitor the Government’s overall progress towards the PRSP objectives.  This summary is not an approved record.