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International Monetary Fund

In October 2006, the Chadian government prepared a second National Poverty Reduction Strategy (NPRS2). NPRS2 analyzed poverty in Chad, reviewed the results of the first NPRS and progress toward the Millennium Development Goals (MDGs), defined the strategic pillars of the second strategy, examined two key scenarios for poverty reduction and growth, and described the institutional framework for implementation of the strategy. The government considers NPRS2 as the main instrument for achieving the MDGs in Chad, and therefore the preferred framework for socioeconomic development.

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.