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Mr. Sanjeev Gupta, Mr. Benedict J. Clements, Mr. Luiz de Mello, and Shamit Chakravarti

For many years, the IMF has tracked countries’ military spending. The IMF’s Fiscal Affairs Department describes its most recent findings and also looks at patterns in military as well as poverty-reducing spending in countries with loans under the IMF’s concessional Poverty Reduction and Growth Facility (PRGF).

International Monetary Fund. External Relations Dept.

02/1: IMF Managing Director Köhler Names Abdoulaye Bio Tchane Head of African Department, January 10

International Monetary Fund. External Relations Dept.

The IMF’s Executive Board on May 15 approved an augmentation of Turkey’s three-year Stand-By Arrangement by SDR 6.4 billion (about $8 billion), bringing the total to SDR 15 billion (about $19 billion). The full text of Press Release 01/23, including details of Turkey’s economic program, is available on the IMF’s website (www.imf.org).

Mr. Insu Kim and Stephen Schwartz

On May 20, the United Nations transferred authority to the newly established government of East Timor. The handover marks East Timor’s formal independence, making the territory the first new country of the 21st century. While offering opportunities, East Timor’s long-awaited independence also poses challenges. The new nation is one of the world’s poorest countries. For at least the next few years, the economy will need to rely on the technical and financial assistance of the international community. The IMF plans to assist East Timor in meeting its postindependence challenges and looks forward soon to welcoming the country as its 184th member.

International Monetary Fund

Chad’s chronic instability has hindered growth and poverty reduction. Chad remains among the poorest countries in the world, and has made little progress toward the Millennium Development Goals. The global financial crisis affected Chad mainly through the decline in oil prices. Prompt reaction to the pressing food shortage needs to be complemented by measures to increase agriculture productivity. The government should adopt a supplementary budget that reduces the non-oil primary deficit while accommodating priority spending. Improving public financial management is the key.

International Monetary Fund

This paper analyzes requests from Chad authorities for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Additional Interim Assistance Under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The authorities made progress in implementing structural reforms in 2004. In particular, they took corrective measures for the two structural benchmarks missed under the sixth review of the previous PRGF arrangement. They also continued efforts to meet structural conditions for the completion point under the enhanced HIPC Initiative.

International Monetary Fund

Chad’s chronic instability has hindered growth and poverty reduction. Chad remains among the poorest countries in the world, and has made little progress toward the Millennium Development Goals. The global financial crisis affected Chad mainly through the decline in oil prices. Prompt reaction to the pressing food shortage needs to be complemented by measures to increase agriculture productivity. The government should adopt a supplementary budget that reduces the non-oil primary deficit while accommodating priority spending. Improving public financial management is the key.

International Monetary Fund. External Relations Dept.

Under scrutiny from critics and its own official watchdog for its approach to the use of aid in low-income countries, the IMF is taking steps to clarify its role in advising members in the face of high and volatile aid inflows.

International Monetary Fund
This paper discusses key findings of the National Poverty Reduction Strategy (NPRS) Monitoring and Implementation Report 2005 for Chad. The strategy is based on the attainment of five core objectives: good governance, robust and sustained growth, the development of human capital, improved living conditions for the most vulnerable segments of the population, and environmental protection. This report aims to provide a more comprehensive account of the measures taken and results achieved since the beginning of NPRS implementation.
International Monetary Fund
This paper analyzes requests from Chad authorities for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Additional Interim Assistance Under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The authorities made progress in implementing structural reforms in 2004. In particular, they took corrective measures for the two structural benchmarks missed under the sixth review of the previous PRGF arrangement. They also continued efforts to meet structural conditions for the completion point under the enhanced HIPC Initiative.