Chad: Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Chad PDF Download
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Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1557759545
Category : Business & Economics
Languages : en
Pages : 113
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Book Description
The COVID-19 pandemic, the volatility in oil prices, heightened insecurity, and a looming food crisis due to climate change have severely stressed an already vulnerable Chadian economy. The two Rapid Credit Facility (RCF) disbursements in April and July 2020 allowed Chad to meet its immediate financing and urgent balance of payment needs in the early stages of the pandemic. The authorities have requested Fund assistance under the ECF to support their post-COVID recovery and their plan to reduce debt vulnerabilities through a combination of a debt workout and a multi-year fiscal consolidation program. However, due to the death of the president following a resurgence of fighting with rebel groups in April and the delayed delivery of donor support, the treasury situation has become extremely tight, threatening social stability.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1557759545
Category : Business & Economics
Languages : en
Pages : 113
Get Book Here
Book Description
The COVID-19 pandemic, the volatility in oil prices, heightened insecurity, and a looming food crisis due to climate change have severely stressed an already vulnerable Chadian economy. The two Rapid Credit Facility (RCF) disbursements in April and July 2020 allowed Chad to meet its immediate financing and urgent balance of payment needs in the early stages of the pandemic. The authorities have requested Fund assistance under the ECF to support their post-COVID recovery and their plan to reduce debt vulnerabilities through a combination of a debt workout and a multi-year fiscal consolidation program. However, due to the death of the president following a resurgence of fighting with rebel groups in April and the delayed delivery of donor support, the treasury situation has become extremely tight, threatening social stability.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484313895
Category : Business & Economics
Languages : en
Pages : 97
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Book Description
This paper discusses Chad’s Request for a Three-Year Arrangement under the Extended Credit Facility (ECF) and Cancellation of the Current Arrangement. The main elements of the program are the reestablishment of debt sustainability through external debt restructuring, achieving gradual fiscal adjustment by maintaining a tight spending envelope, better mobilizing non-oil revenue, and creating space for domestic arrears clearance. The aim is to stabilize the fiscal position and help achieve a durable economic recovery while supporting regional stabilization efforts. Strengthening public financial management and diversifying the economy are expected to support the efforts to strengthen the fiscal position and boost the non-oil sector. The IMF staff supports the authorities’ request for a new ECF arrangement.
Author: Päivi Lujala
Publisher: Routledge
ISBN: 1136536698
Category : Law
Languages : en
Pages : 624
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Book Description
For most post-conflict countries, the transition to peace is daunting. In countries with high-value natural resources – including oil, gas, diamonds, other minerals, and timber –the stakes are unusually high and peacebuilding is especially challenging. Resource-rich post-conflict countries face both unique problems and opportunities. They enter peacebuilding with an advantage that distinguishes them from other war-torn societies: access to natural resources that can yield substantial revenues for alleviating poverty, compensating victims, creating jobs, and rebuilding the country and the economy. Evidence shows, however, that this opportunity is often wasted. Resource-rich countries do not have a better record in sustaining peace. In fact, resource-related conflicts are more likely to relapse. Focusing on the relationship between high-value natural resources and peacebuilding in post-conflict settings, this book identifies opportunities and strategies for converting resource revenues to a peaceful future. Its thirty chapters draw on the experiences of forty-one researchers and practitioners – as well as the broader literature – and cover a range of key issues, including resource extraction, revenue sharing and allocation, and institution building. The book provides a concise theoretical and practical framework that policy makers, researchers, practitioners, and students can use to understand and address the complex interplay between the management of high-value resources and peace. High-Value Natural Resources and Post-Conflict Peacebuilding is part of a global initiative led by the Environmental Law Institute (ELI), the United Nations Environment Programme (UNEP), the University of Tokyo, and McGill University to identify and analyze lessons in natural resource management and post-conflict peacebuilding. The project has generated six edited books of case studies and analyses, with contributions from practitioners, policy makers, and researchers. Other books in the series address land; water; livelihoods; assessing and restoring natural resources; and governance.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484392795
Category : Business & Economics
Languages : en
Pages : 67
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Book Description
The regional strategy has helped to avert an immediate crisis but continues to face headwinds: two countries have yet to enter financing arrangements with the Fund: regional reserves have underperformed despite higher-than-projected oil prices; the projected recovery of non-oil growth has still to materialize; and the security, social, and political context remains challenging. Consistent with the policy assurances it had provided, the BEAC has taken corrective actions, including an increase in its policy rate, to address the NFA underperformance and has made substantial progress toward finalizing by end-year the modernization of the monetary policy operational framework and the drafting of new foreign exchange regulations. A follow-up letter of support provides updated policy assurances on the NFA path. The medium-term outlook continues to see a gradual improvement in the economic and financial situation but is subject to substantial downside risks, including further delays in the approval of financial arrangements with Congo and Equatorial Guinea, lower oil prices, and tighter global financial conditions. The region continues to face daunting challenges to diversify its economy, with a poor business environment and high perception of corruption.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1616358645
Category : Business & Economics
Languages : en
Pages : 103
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Book Description
Niger’s new government developed an ambitious reform agenda in the face of daunting challenges. The previous ECF-supported program was able to preserve macroeconomic stability and implement some key PFM reforms, notwithstanding the pandemic. However, progress on revenue mobilization was more limited, reflecting capacity constraints and a challenging environment. For the new government to achieve its development goals, it will have to overcome deep-seated social and political divisions and a deteriorating regional security situation. Enhanced reforms and the advent of oil exports over the medium-term offer hope that greater domestic resources can be marshalled to accelerate growth and poverty reduction.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1475582870
Category : Business & Economics
Languages : en
Pages : 137
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Book Description
This 2016 Article IV Consultation highlights Niger’s macroeconomic outcomes, which continue to be affected by security and humanitarian shocks, weak commodity prices, and reduced trade flows to neighboring countries. For 2016, growth is projected at 4.6 percent, slightly higher than the 3.5 percent recorded in 2015, but still only just above the rate of population growth. The medium-term economic outlook is favorable, but remains subject to substantial external and domestic risks. Growth is projected to increase to 5.2 percent in 2017 and to average 6.0 percent during 2018–21, mainly as a result of the expansion of the extractive industries sector and an increase in public and private investments.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1513513303
Category : Business & Economics
Languages : en
Pages : 102
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Book Description
This paper discusses Mali’s Request for Three-Year Arrangement Under the Extended Credit Facility (ECF). The economic outlook for Mali remains positive; however, subject to important downside risks. The potential real growth rate is estimated at about 5 percent per year and inflation is expected to continue to be contained by the CFAF’s peg to the euro. Downside risks relate to the possible further deterioration of the security situation, potential shocks to the terms of trade (the price of gold, cotton, and fuels), and adverse weather conditions. Going forward, it is essential to pursue greater spending efficiency, including through strengthened project selection and execution, as well as the rationalization of subsidies. The authorities’ efforts to increase financial inclusion and narrow the gender gap, including by direct measures to economically empower women are welcome. The new ECF arrangement aims to support the authorities’ development strategy (CREDD) for strong and inclusive growth through job creation, economic diversification, and greater resiliency. The main focus in the short term is to significantly increase revenue collection to allow for development spending and to reform the energy sector.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484313909
Category : Business & Economics
Languages : en
Pages : 97
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Book Description
This paper discusses Chad’s Request for a Three-Year Arrangement under the Extended Credit Facility (ECF) and Cancellation of the Current Arrangement. The main elements of the program are the reestablishment of debt sustainability through external debt restructuring, achieving gradual fiscal adjustment by maintaining a tight spending envelope, better mobilizing non-oil revenue, and creating space for domestic arrears clearance. The aim is to stabilize the fiscal position and help achieve a durable economic recovery while supporting regional stabilization efforts. Strengthening public financial management and diversifying the economy are expected to support the efforts to strengthen the fiscal position and boost the non-oil sector. The IMF staff supports the authorities’ request for a new ECF arrangement.
Author: International Monetary Fund African Dept
Publisher:
ISBN:
Category :
Languages : fr
Pages : 0
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Book Description
The COVID-19 pandemic, the volatility in oil prices, heightened insecurity, and a looming food crisis due to climate change have severely stressed an already vulnerable Chadian economy. The two Rapid Credit Facility (RCF) disbursements in April and July 2020 allowed Chad to meet its immediate financing and urgent balance of payment needs in the early stages of the pandemic. The authorities have requested Fund assistance under the ECF to support their post-COVID recovery and their plan to reduce debt vulnerabilities through a combination of a debt workout and a multi-year fiscal consolidation program. However, due to the death of the president following a resurgence of fighting with rebel groups in April and the delayed delivery of donor support, the treasury situation has become extremely tight, threatening social stability.
