IMF Staff Country Reports

Union of the Comoros: 2023 Article IV Consultation, First Review Under the Extended Credit Facility Arrangement, Requests for Waivers of Nonobservance of Performance Criteria, and Modifications of Performance Criteria-Press Release; Staff Report; Debt Sustainability Analysis; and Statement by the Executive Director for the Union of the Comoros

Publication Date:

January 8, 2024

Electronic Access:

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Summary:

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.

Series:

Country Report No. 2024/004

Subject:

Arrears Debt sustainability analysis External debt International organization Monetary policy Public debt Revenue administration

Frequency:

regular