Union of the Comoros: Third Review Under the Three-Year Arrangement Under the Extended Credit Facility, Requests for Waiver of Nonobservance of a Performance Criterion, Modification of a Performance Criterion, Extension of the Arrangement, Rephasing of Disbursements, and Financing Assurances Review

February 8, 2013

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Format: Chicago

Union of the Comoros: Third Review Under the Three-Year Arrangement Under the Extended Credit Facility, Requests for Waiver of Nonobservance of a Performance Criterion, Modification of a Performance Criterion, Extension of the Arrangement, Rephasing of Disbursements, and Financing Assurances Review, (USA: International Monetary Fund, 2013) accessed September 26, 2024

Summary

Comoros remains in debt distress, pending the achievement of the completion point under the Highly Indebted Poor Country (HIPC) Initiative. The outlook for 2012 is broadly consistent with expectations under the Extended Credit Facility (ECF) arrangement. The IMF Executive Board has approved a three-year ECF arrangement to support Comoros’ medium-term economic recovery efforts. The government has continued pursuing a prudent external debt management policy. Achievement of the government’s fiscal objectives requires close adherence to the fiscal program to enhance the efficiency of tax and customs administration and to expand the tax base.

Subject: Arrears, Debt sustainability, Debt sustainability analysis, External debt, Public debt

Keywords: Africa, Arrears, Comorian authorities, CR, Debt, Debt sustainability, Debt sustainability analysis, ECF arrangement, ECF-supported program, Et des Domaines, Global, Government, ISCR, Unsustainable debt situation

Publication Details

Pages:

78
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/038
Stock No:

1COMEA2013004
ISBN:

9781616354589
ISSN:

1934-7685

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