Union of the Comoros: Second Review Under the Staff-Monitored Program
IMF Staff Country Reports, May 26, 2006
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- Canonical URL
- Union of the Comoros: Second Review Under the Staff-Monitored Program
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Bibliographic details
- Published: May 26, 2006
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451809152.002
Summary findings
- The external current account is expected to worsen with the sharp deterioration of the trade deficit.
- General economic conditions have remained lackluster in 2005, hampered by the sharp deterioration in terms of trade.
- Vanilla prices have remained depressed and oil import costs have more than doubled.
- Monetary policy has remained prudent and inflation subdued.
External position and trade
- External current account: expected to worsen due to a sharp deterioration of the trade deficit.
- Terms of trade: experienced a sharp deterioration in 2005.
- Commodity specifics:
- Vanilla prices: have remained depressed.
- Oil import costs: have more than doubled.
Domestic macroeconomic conditions
- Economic activity: general conditions described as lackluster in 2005.
- Monetary policy: maintained a prudent stance.
- Inflation: described as subdued.
Policy implications and areas of focus
- Addressing the worsening external current account by mitigating the trade deficit.
- Measures to manage vulnerability to commodity price swings, notably vanilla and oil.
- Continued prudent monetary policy to maintain subdued inflation.
International Monetary Fund. "Union of the Comoros: Second Review Under the Staff-Monitored Program", IMF Staff Country Reports 2006, 192 (2006).