Union of the Comoros: Fourth Review under the Extended Credit Facility Arrangement and Request for Modifications of Performance Criteria and Waivers of Nonobservance of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for the Union of the Comoros

International Monetary Fund

No 2025/154, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper highlights Union of the Comoros’ Fourth Review under the Extended Credit Facility (ECF) Arrangement and Requests for Modifications of Performance Criteria and Waivers of Nonobservance of Performance Criteria. Program performance remains broadly on track despite setbacks in 2024 linked to a lengthy political transition and external shocks. The authorities have reaffirmed their commitment to the ECF-supported reform agenda and are determined to demonstrate stronger program ownership in the period ahead. Economic conditions remain broadly stable, supported by adequate external buffers and continued program engagement, despite persistent inflationary pressures. Implementation of the ECF-supported program is helping to safeguard macroeconomic stability, advance critical structural reforms, and mobilize concessional financing to address Comoros’s significant development and financing needs. Program implementation has regained momentum following a slowdown in late 2024. Continued engagement with the IMF and donor partners will be essential to safeguard macroeconomic stability, advance reforms, catalyze grants and concessional financing, and address capacity gaps.

Keywords: staff appraisal; arrears of customs tax; Comorian authorities; Secretary General of the government; staff representative; Arrears; Fiscal stance; Fiscal law; Global; Asia and Pacific; West Africa (search for similar items in EconPapers)
Pages: 85
Date: 2025-06-27
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