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

International Monetary Fund

No 2021/235, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: COVID pandemic; SMP design; SMP objective; burden indicator; implementation capacity; IMF's transparency policy; COVID-19; Global; Africa; West Africa; Southern Africa; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 65
Date: 2021-10-29
New Economics Papers: this item is included in nep-mac
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