Union of Comoros: Request for a Staff-Monitored Program-Press Release; and Staff Report

Union of Comoros: Request for a Staff-Monitored Program-Press Release; and Staff Report PDF Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513598082
Category : Business & Economics
Languages : en
Pages : 65

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Book Description
Comoros is a small, fragile island state (population: 850,000) with persistently low and shock-prone growth. The last Article IV Consultation (completed in early 2020) assessed Comoros’ fragility as arising from two vicious circles: economic fragility manifests in low fiscal revenue, insufficient government investment in human and physical capital, and pronounced vulnerability to shocks; while institutional fragility manifests in governance challenges, low government implementation capacity, and a weak judicial system. The circles feed into each other, undermining economic performance and stability. Overcoming fragility requires breaking both circles.

Union of Comoros: Request for a Staff-Monitored Program-Press Release; and Staff Report

Union of Comoros: Request for a Staff-Monitored Program-Press Release; and Staff Report PDF Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513598082
Category : Business & Economics
Languages : en
Pages : 65

Get Book Here

Book Description
Comoros is a small, fragile island state (population: 850,000) with persistently low and shock-prone growth. The last Article IV Consultation (completed in early 2020) assessed Comoros’ fragility as arising from two vicious circles: economic fragility manifests in low fiscal revenue, insufficient government investment in human and physical capital, and pronounced vulnerability to shocks; while institutional fragility manifests in governance challenges, low government implementation capacity, and a weak judicial system. The circles feed into each other, undermining economic performance and stability. Overcoming fragility requires breaking both circles.

Union of the Comoros: First Review Under the Staff-Monitored Program and Request for Extension; and Staff Report

Union of the Comoros: First Review Under the Staff-Monitored Program and Request for Extension; and Staff Report PDF Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 52

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Book Description
Comoros is a small, fragile island state (population: 850,000) with persistently low and shock-prone growth and a high risk of external debt distress. Officially recorded COVID-related casualties have remained low (4,569 infections and 151 deaths so far). Growth projections remain at 1.6 percent in 2021 and 3.8 percent in 2022, supported in part by progress in vaccinations.

Union of the Comoros

Union of the Comoros PDF Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 90

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Book Description
Comoros is a small, fragile island state facing significant development challenges, balance of payments needs, a high risk of debt distress, vulnerabilities in the banking system, and governance weaknesses. In recent years, the country was hit by successive shocks including Cyclone Kenneth in 2019, the COVID-19 pandemic in 2020- 21, and fallout from the war in Ukraine in 2022. Two rounds of emergency support under the RCF/RFI of SDR 8.9 million each were approved in July 2019 and April 2020. A Staff Monitored Program (SMP), approved in September 2021, ended with broadly satisfactory performance, helping to establish a track record of policy implementation towards an Extended Credit Facility (ECF) arrangement. Policies under the SMP aimed to address the impact of the COVID-19 pandemic, reduce economic risks, and begin reforms to tackle sources of fragility.

Chad

Chad PDF Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484324072
Category : Business & Economics
Languages : en
Pages : 42

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Book Description
This paper analyzes the effect of an IMF Staff-Monitored Program for Chad to enhance economic development. Weak institutional capacity and governance concerns have limited economic development and donor support in Chad. It is highlighted that the reduction in the nonoil primary deficit envisaged in the 2013 budget appears appropriate, but expenditures linked to the regional security situation and lower than anticipated oil revenues imply large financing needs. There are significant economic and political risks to program implementation,; the regional security situation remains volatile, and the economy is highly dependent on volatile oil revenue.

Union of the Comoros

Union of the Comoros PDF Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 116

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Book Description
Economic recovery is underway, supported by the resumption of social activities, tourism, and ongoing public investment projects. Inflation has decelerated, in line with normalizations in international oil and food prices thus far in 2023. However, risks to the outlook are elevated due to the fragile context and global uncertainty; dependence on imports, remittances, and foreign aid means the economy remains highly vulnerable to external shocks. In this context, the economic reform program supported by the Extended Credit Facility (ECF) seeks to reduce fragility and increase economic resilience by building fiscal buffers, reducing debt vulnerabilities, strengthening the financial sector, and mitigating corruption risks.

Union of the Comoros

Union of the Comoros PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1455203408
Category : Business & Economics
Languages : en
Pages : 65

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Book Description
Recent developments in the Comoros point to slow, uneven, yet significant progress in political normalization. Overall performance under the Extended Credit Facility-supported program has been broadly satisfactory. The government understands the need to continue fiscal consolidation in support of macroeconomic objectives, targeting a reduction of the domestic primary deficit. In the structural area, program focus will be on public finance management and key sectors critical to improved growth performance. Debt relief is crucial to securing medium-term external debt sustainability and for success of the program.

Union of Comoros

Union of Comoros PDF Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1475562764
Category : Business & Economics
Languages : en
Pages : 88

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Book Description
This 2016 Article IV Consultation highlights difficulties the economy of Comoros encountered in 2015 and the first half of 2016. An ongoing crisis in the electricity sector and slower-than-expected implementation of the public investment program were the main factors behind the slower growth. Inflation remained well anchored at an annual rate of about 2 percent. Fiscal policy was challenging for most of 2015 as the impact of slower economic growth was compounded by lower revenues. Growth is projected to pick up somewhat to 2 percent in 2016, and revenues are projected to increase to 12 percent of GDP.

The Growth Report

The Growth Report PDF Author: Commission on Growth and Development
Publisher: World Bank Publications
ISBN: 0821374923
Category : Business & Economics
Languages : en
Pages : 198

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Book Description
The result of two years work by 19 experienced policymakers and two Nobel prize-winning economists, 'The Growth Report' is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can deliver growth and help lift populations out of poverty.

Defying the Odds: Remittances During the COVID-19 Pandemic

Defying the Odds: Remittances During the COVID-19 Pandemic PDF Author: Kangni Kpodar
Publisher: International Monetary Fund
ISBN: 1513578456
Category : Business & Economics
Languages : en
Pages : 35

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Book Description
This paper provides an early assessment of the dynamics and drivers of remittances during the COVID-19 pandemic, using a newly compiled monthly remittance dataset for a sample of 52 countries, of which 16 countries with bilateral remittance data. The paper documents a strong resilience in remittance flows, notwithstanding an unprecedent global recession triggered by the pandemic. Using the local projection approach to estimate the impulse response functions of remittance flows during Jan 2020-Dec 2020, the paper provides evidence that: (i) remittances responded positively to COVID-19 infection rates in migrant home countries, underscoring its role as an important automatic stabilizer; (ii) stricter containment measures have the unintended consequence of dampening remittances; and (iii) a shift from informal to formal remittance channels due to travel restrictions appears to have also played a role in the surge in formal remittances. Lastly, the size of the fiscal stimulus in host countries is positively associated with remittances as the fiscal response cushions the economic impact of the pandemic.

The Diaspora of the Comoros in France

The Diaspora of the Comoros in France PDF Author: Katharina Fritsch
Publisher: Taylor & Francis
ISBN: 1000614174
Category : Political Science
Languages : en
Pages : 259

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Book Description
Based on an ethnographic study of mobilisations of the Comorian diaspora in Marseille during political and cultural events, the book examines communitarisation in relation to three thematic areas, namely spaces, cultural markets and local politics. Drawing on Foucault’s concept of the dispositif, the author analyses mobilisations of postcolonial diaspora as part of a dispositif of communitarisation, that is, a set of discourses, practices, institutions and subjectivations of diasporic community. She argues that constructions of ‘community’ are both shaped by and shape ethnicised biopolitics, expressed by modes of governing diasporic groups along ethnicised divisions and a marking of ethnicised communities as the Other of the French Republic. The performativity of a Comorian community brought into being through political, cultural, economic and customary practices also shows how Comorian communities govern themselves along ethnicised categories, at the intersection with generation, gender, age classes, locality and class. Communitarisation processes as part of ethnicised (self-)governing reveal postcolonial power relations in France as well as practices of negotiation and contestation on the part of Comorian communities. This book will be of interest to scholars in the fields of critical diaspora studies, critical ethnography, discourse and dispositif analysis, postcolonial politics, and the African diaspora.