Chad: Request for a Three-Year Arrangement under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Chad

International Monetary Fund

No 2021/267, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: Chadian authorities; ECF arrangement; Chad team; IMF's transparency policy; looming food crisis; Debt sustainability; Debt sustainability analysis; Global; Africa; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 113
Date: 2021-12-15
New Economics Papers: this item is included in nep-mac
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