Comoros: Statistical Annex

International Monetary Fund

doi:10.5089/9781451809022.002.A001

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Comoros

Statistical Annex

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International Monetary Fund

International Monetary Fund
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Publication Date:: 28 Aug 2000

eISBN:: 9781451809022

Language:: English

Keywords:: ISCR; CR; tax; enterprise; estimate; rental value; exit-entry visa CF; loan company; proportional tax; residency card CF

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In this study, the following statistical data are presented in detail: GDP at current market prices; prices of export crops; production and consumption of electricity; indicators of tourism activity; indicators of population, education, and employment; monetary survey; summary statement of the central bank; structure of interest rates; balance of payments; volume and value of principal exports and imports; breakdown of the government wage bill; external debt outstanding by creditors; summary of tax system; consolidated government expenditure; wage bill developments by ministry; and so on.

Abstract

Table 1.

Comoros: Gross Domestic Product by Sector at Current Market Prices,1994-99

(In millions of Comorian francs)

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}Including import duties and taxes.

^{^2/}REB = real estate business and STE = services to enterprises.

Table 1.

Comoros: Gross Domestic Product by Sector at Current Market Prices,1994-99

(In millions of Comorian francs)

Economic Activity	1994	1995	1996	1997	1998	1999
		Est.	Est.	Est.	Est.	Est.
Agriculture, livestock, fishing, and forestry	28,807	31,293	32,878	34,362	34,900	35,557
Manufacturing	3,163	3,186	3,106	3,218	3,275	3,311
Electricity, gas, and water	1,066	1,174	1,182	538	1,199	1,333
Construction and public works	4,795	4,780	4,806	4,932	5,177	5,264
Trade, hotels, bars, and restaurants 1/	19,736	19,277	20,128	21,079	21,857	22,119
Banks, insurance, REB, and STE 2/	3,263	3,300	2,525	2,637	3,033	3,099
Transportation and communications	3,163	4,057	4,080	4,264	4,456	4,505
Government departments	11,159	10,947	10,827	11,416	11,547	12,111
Other services	367	422	387	427	426	428
Imputed banking production	1,832	1,908	1,927	1,838	1,383	1,279
GDP at market prices	77,351	80,343	81,847	84,710	87,251	89,005

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}Including import duties and taxes.

^{^2/}REB = real estate business and STE = services to enterprises.

Table 1.

Comoros: Gross Domestic Product by Sector at Current Market Prices,1994-99

(In millions of Comorian francs)

Economic Activity	1994	1995	1996	1997	1998	1999
		Est.	Est.	Est.	Est.	Est.
Agriculture, livestock, fishing, and forestry	28,807	31,293	32,878	34,362	34,900	35,557
Manufacturing	3,163	3,186	3,106	3,218	3,275	3,311
Electricity, gas, and water	1,066	1,174	1,182	538	1,199	1,333
Construction and public works	4,795	4,780	4,806	4,932	5,177	5,264
Trade, hotels, bars, and restaurants 1/	19,736	19,277	20,128	21,079	21,857	22,119
Banks, insurance, REB, and STE 2/	3,263	3,300	2,525	2,637	3,033	3,099
Transportation and communications	3,163	4,057	4,080	4,264	4,456	4,505
Government departments	11,159	10,947	10,827	11,416	11,547	12,111
Other services	367	422	387	427	426	428
Imputed banking production	1,832	1,908	1,927	1,838	1,383	1,279
GDP at market prices	77,351	80,343	81,847	84,710	87,251	89,005

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}Including import duties and taxes.

^{^2/}REB = real estate business and STE = services to enterprises.

Table 2.

Comoros: Gross Domestic Product by Sector at 1990 Constant Prices,1994-99

(In millions of Comorian francs)

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}Including import duties and taxes.

^{^2/}REB = real estate business and STE = services to enterprises.

Table 2.

Comoros: Gross Domestic Product by Sector at 1990 Constant Prices,1994-99

(In millions of Comorian francs)

Economic Activity	1994	1995	1996	1997	1998	1999
		Est.	Est.	Est.	Est.	Est.
Agriculture, livestock, fishing, and forestry	26,209	25,341	25,343	25,486	25,454	25,001
Manufacturing	3,092	2,951	2,781	2,835	2,730	2,673
Electricity, gas, and water	914	850	813	422	833	973
Construction and public works	4,245	4,115	4,075	4,128	4,054	4,017
Trade, hotels, bars, and restaurants 1/	17,162	16,561	17,052	17,496	17,113	17,190
Banks, insurance, REB, and STE 2/	3,200	2,906	2,893	2,917	2,889	2,856
Transportation and communications	2,724	2,642	2,649	2,723	2,657	2,627
Government departments	8,658	8,275	8,084	8,148	8,392	8,003
Other services	332	319	297	357	298	295
Imputed banking production	1,660	1,598	1,487	1,280	1,054	898
GDP at market prices	68,197	65,558	65,476	65,792	65,474	64,532

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}Including import duties and taxes.

^{^2/}REB = real estate business and STE = services to enterprises.

Table 2.

Comoros: Gross Domestic Product by Sector at 1990 Constant Prices,1994-99

(In millions of Comorian francs)

Economic Activity	1994	1995	1996	1997	1998	1999
		Est.	Est.	Est.	Est.	Est.
Agriculture, livestock, fishing, and forestry	26,209	25,341	25,343	25,486	25,454	25,001
Manufacturing	3,092	2,951	2,781	2,835	2,730	2,673
Electricity, gas, and water	914	850	813	422	833	973
Construction and public works	4,245	4,115	4,075	4,128	4,054	4,017
Trade, hotels, bars, and restaurants 1/	17,162	16,561	17,052	17,496	17,113	17,190
Banks, insurance, REB, and STE 2/	3,200	2,906	2,893	2,917	2,889	2,856
Transportation and communications	2,724	2,642	2,649	2,723	2,657	2,627
Government departments	8,658	8,275	8,084	8,148	8,392	8,003
Other services	332	319	297	357	298	295
Imputed banking production	1,660	1,598	1,487	1,280	1,054	898
GDP at market prices	68,197	65,558	65,476	65,792	65,474	64,532

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}Including import duties and taxes.

^{^2/}REB = real estate business and STE = services to enterprises.

Table 3.

Comoros: Source and Use of Resources at Current Market Prices,1994-99

(In millions of Comorian francs)

Sources: Directorate of Statistics; and Fund staff estimates.

Table 3.

Comoros: Source and Use of Resources at Current Market Prices,1994-99

(In millions of Comorian francs)

	1994	1995	1996	1997	1998	1999
		Est.	Est.	Est.	Est.	Est.
Public consumption	12,879	13,838	12,434	11,860	10,311	11,072
Private consumption	69,072	75,074	78,677	83,106	75,572	77,759
Gross fixed capital formation	15,335	11,764	11,022	11,885	14,217	12,426
Change in stocks	900	1,200	104	1,230	200	700
Exports of goods and services	15,713	17,157	16,204	16,574	21,766	23,226
Imports of goods and services	-36,547	-38,689	-36,594	-39,946	-34,814	-36,178
GDP at market prices	77,351	80,343	81,847	84,710	87,251	89,005
Factor income	188	381	140	102	-163	-24
Gross national product	77,539	80,724	81,987	84,812	87,088	88,981

Sources: Directorate of Statistics; and Fund staff estimates.

Table 3.

Comoros: Source and Use of Resources at Current Market Prices,1994-99

(In millions of Comorian francs)

	1994	1995	1996	1997	1998	1999
		Est.	Est.	Est.	Est.	Est.
Public consumption	12,879	13,838	12,434	11,860	10,311	11,072
Private consumption	69,072	75,074	78,677	83,106	75,572	77,759
Gross fixed capital formation	15,335	11,764	11,022	11,885	14,217	12,426
Change in stocks	900	1,200	104	1,230	200	700
Exports of goods and services	15,713	17,157	16,204	16,574	21,766	23,226
Imports of goods and services	-36,547	-38,689	-36,594	-39,946	-34,814	-36,178
GDP at market prices	77,351	80,343	81,847	84,710	87,251	89,005
Factor income	188	381	140	102	-163	-24
Gross national product	77,539	80,724	81,987	84,812	87,088	88,981

Sources: Directorate of Statistics; and Fund staff estimates.

Table 4.

Comoros: Source and Use of Resources at 1990 Constant Prices,1994-99

(In millions of Comorian francs)

Sources: Directorate of Statistics; and Fund staff estimates.

Table 4.

Comoros: Source and Use of Resources at 1990 Constant Prices,1994-99

(In millions of Comorian francs)

	1994	1995	1996	1997	1998	1999
		Est.	Est.	Est.	Est.	Est.
Public consumption	10,049	10,081	8,881	8,224	6,909	7,168
Private consumption	52,560	48,472	47,809	46,437	35,769	42,354
Gross fixed capital formation	12,824	12,551	13,420	14,004	15,538	13,911
Change in stocks	698	911	49	564	89	300
Exports of goods and services	16,140	18,695	19,831	21,586	27,532	21,439
Imports of goods and services	-24,074	-25,152	-24,515	-25,024	-20,362	-20,640
GDP at market prices	68,197	65,558	65,476	65,792	65,474	64,532
Factor income	156	296	107	75	-117	-17
Gross national product	68,353	65,854	65,582	65,868	65,358	64,515

Sources: Directorate of Statistics; and Fund staff estimates.

Table 4.

Comoros: Source and Use of Resources at 1990 Constant Prices,1994-99

(In millions of Comorian francs)

	1994	1995	1996	1997	1998	1999
		Est.	Est.	Est.	Est.	Est.
Public consumption	10,049	10,081	8,881	8,224	6,909	7,168
Private consumption	52,560	48,472	47,809	46,437	35,769	42,354
Gross fixed capital formation	12,824	12,551	13,420	14,004	15,538	13,911
Change in stocks	698	911	49	564	89	300
Exports of goods and services	16,140	18,695	19,831	21,586	27,532	21,439
Imports of goods and services	-24,074	-25,152	-24,515	-25,024	-20,362	-20,640
GDP at market prices	68,197	65,558	65,476	65,792	65,474	64,532
Factor income	156	296	107	75	-117	-17
Gross national product	68,353	65,854	65,582	65,868	65,358	64,515

Sources: Directorate of Statistics; and Fund staff estimates.

Table 5.

Comoros: Prices of Export Crops,1994-99

(In Comorian francs per kilogram)

Sources: Comorian Office of Vanilla; and General Directorate of Customs.

^{^1/}The yield from 5 kilograms of green vanilla is about 1 kilogram of dried vanilla.

^{^2/}Floor prices.

Table 5.

Comoros: Prices of Export Crops,1994-99

(In Comorian francs per kilogram)

		1994	1995	1996	1997	1998	1999
Vanilla 1/
	Product price (green vanilla) 2/	1,250	1,350	1,250	750	1,000	1,250
	Export price, f.o.b. (dried vanilla)	21,179	15,085	11,325	6,819	8,010	9,933
Ylang-ylang
	Producer price (flowers)	110	110	75-100	75-100	100-125	150
	Export price, f.o.b. (essence)	20,704	19,696	17,663	16,884	18,691	23,888
Cloves
	Producer price	190	190	75-100	150-200	225-275	1000-1250
	Export price, f.o.b.	190	278	255	227	258	1,326

Sources: Comorian Office of Vanilla; and General Directorate of Customs.

^{^1/}The yield from 5 kilograms of green vanilla is about 1 kilogram of dried vanilla.

^{^2/}Floor prices.

Table 5.

Comoros: Prices of Export Crops,1994-99

(In Comorian francs per kilogram)

		1994	1995	1996	1997	1998	1999
Vanilla 1/
	Product price (green vanilla) 2/	1,250	1,350	1,250	750	1,000	1,250
	Export price, f.o.b. (dried vanilla)	21,179	15,085	11,325	6,819	8,010	9,933
Ylang-ylang
	Producer price (flowers)	110	110	75-100	75-100	100-125	150
	Export price, f.o.b. (essence)	20,704	19,696	17,663	16,884	18,691	23,888
Cloves
	Producer price	190	190	75-100	150-200	225-275	1000-1250
	Export price, f.o.b.	190	278	255	227	258	1,326

Sources: Comorian Office of Vanilla; and General Directorate of Customs.

^{^1/}The yield from 5 kilograms of green vanilla is about 1 kilogram of dried vanilla.

^{^2/}Floor prices.

Table 6.

Comoros: Production and Consumption of Electricity,1994-99

Source: Electricity and water company.

^{^1/}The difference between production and consumption reflects power losses and fraud.

Table 6.

Comoros: Production and Consumption of Electricity,1994-99

		1994	1995	1996	1997	1998	1999
Production (in millions of kilowatts/hour) 1/		20.3	32.0	30.9	...	29.0	34.9
Consumption (in millions of kilowatts/hour) 1/		17.7	22.9	21.4	...	18.0	22.0
Installed capacity (in megawatts)		9.2	9.5	9.8	...	12.7	12.7
Anjouan		2.0	2.0	2.0	...	1.3	1.3
	Ntrenani	1.9	1.9	1.9	...	1.3	1.3
	Dima	0.1	0.1	0.0	...	0.0	0.0
Mohéli		0.6	0.8	0.8	...	0.0	0.0
Grande Comore		6.7	6.7	7.0	...	12.7	12.7
	Foumbouni et M’Beni	0.4	0.4	0.6	...	2.4	2.4
	Voidjou	6.0	6.0	6.0	...	0.6	0.6
	Ouzioini	0.1	0.1	0.2	...	9.4	9.4
	Dembénd	0.2	0.2	0.2	...	0.3	0.3

Source: Electricity and water company.

^{^1/}The difference between production and consumption reflects power losses and fraud.

Table 6.

Comoros: Production and Consumption of Electricity,1994-99

		1994	1995	1996	1997	1998	1999
Production (in millions of kilowatts/hour) 1/		20.3	32.0	30.9	...	29.0	34.9
Consumption (in millions of kilowatts/hour) 1/		17.7	22.9	21.4	...	18.0	22.0
Installed capacity (in megawatts)		9.2	9.5	9.8	...	12.7	12.7
Anjouan		2.0	2.0	2.0	...	1.3	1.3
	Ntrenani	1.9	1.9	1.9	...	1.3	1.3
	Dima	0.1	0.1	0.0	...	0.0	0.0
Mohéli		0.6	0.8	0.8	...	0.0	0.0
Grande Comore		6.7	6.7	7.0	...	12.7	12.7
	Foumbouni et M’Beni	0.4	0.4	0.6	...	2.4	2.4
	Voidjou	6.0	6.0	6.0	...	0.6	0.6
	Ouzioini	0.1	0.1	0.2	...	9.4	9.4
	Dembénd	0.2	0.2	0.2	...	0.3	0.3

Source: Electricity and water company.

^{^1/}The difference between production and consumption reflects power losses and fraud.

Table 7.

Comoros: Indicators of Tourism Activity,1994-98

Source: General Directorate of Tourism, Ministry of Transportation and Tourism.

^{^1/}No official data have been provided by the Galawa Hotel.

^{^2/}Members of the Cooperation Council for the Arab States of the Gulf.

^{^3/}Estimate for 1991.

^{^4/}Includes the Ylang-Ylang, Coelacanthe, Maloudja, and Al Amal hotels.

^{^5/}The Sun Resorts Group includes the Galawa, Maloudja, and Itsandra hotels.

^{^6/}Includes the Itsandra, Kartala, and, since 1986, the Relais de Singali hotels.

^{^7/}From 1993, includes the other hotels.

Table 7.

Comoros: Indicators of Tourism Activity,1994-98

				1994	1995	1996	1997	1998	1999
Tourist accommodation available 1/
	(number of beds)			615	615	715	...	...	...
Number of visitors				27,061	22,838	23,775	...	...	...
By origin (in percent of total)
	Europe			68.0	62.0	44.7	...	...	...
		of which: France		50.7	41.4	33.6	...	...	...
	Africa and Indian Ocean			29.4	34.8	47.8	...	...	...
		of which: South Africa		23.8	28.6	33.6	...	...	...
	Other countries			2.6	3.2	7.6	...	...	...
		of which: Gulf states 2/		...	...	6.1	...	...	...
Visitor overnights 3/				130,561	130,600	127,200	...	...	...
			COMOTEL 4/	...	...	...	...	...	...
			Galawa 5/	103,161	103,200	99,200	...	...	...
			Other 6/	27,400	27,400	28,000	...	...	...
Average length of stay
	(in days)			9	9	9	...	...	...
	of which: COMOTEL			10	10	10	...	...	...
			Galawa	8	8	8	...	...	...
Average room occupancy rate (in percent)
	COMOTEL 7/			25.2	24.5	31.0	...	...	...
	Galawa			72.0	70.0	64.0	...	...	...
Turnover
	(in billions of Comorian francs)			3.9	3.6	3.5	...	...	...
	of which: COMOTEL			0.6	0.5	0.4	...	...	...
			Galawa	3.3	3.1	3.1	...	...	...

Source: General Directorate of Tourism, Ministry of Transportation and Tourism.

^{^1/}No official data have been provided by the Galawa Hotel.

^{^2/}Members of the Cooperation Council for the Arab States of the Gulf.

^{^3/}Estimate for 1991.

^{^4/}Includes the Ylang-Ylang, Coelacanthe, Maloudja, and Al Amal hotels.

^{^5/}The Sun Resorts Group includes the Galawa, Maloudja, and Itsandra hotels.

^{^6/}Includes the Itsandra, Kartala, and, since 1986, the Relais de Singali hotels.

^{^7/}From 1993, includes the other hotels.

Table 7.

Comoros: Indicators of Tourism Activity,1994-98

				1994	1995	1996	1997	1998	1999
Tourist accommodation available 1/
	(number of beds)			615	615	715	...	...	...
Number of visitors				27,061	22,838	23,775	...	...	...
By origin (in percent of total)
	Europe			68.0	62.0	44.7	...	...	...
		of which: France		50.7	41.4	33.6	...	...	...
	Africa and Indian Ocean			29.4	34.8	47.8	...	...	...
		of which: South Africa		23.8	28.6	33.6	...	...	...
	Other countries			2.6	3.2	7.6	...	...	...
		of which: Gulf states 2/		...	...	6.1	...	...	...
Visitor overnights 3/				130,561	130,600	127,200	...	...	...
			COMOTEL 4/	...	...	...	...	...	...
			Galawa 5/	103,161	103,200	99,200	...	...	...
			Other 6/	27,400	27,400	28,000	...	...	...
Average length of stay
	(in days)			9	9	9	...	...	...
	of which: COMOTEL			10	10	10	...	...	...
			Galawa	8	8	8	...	...	...
Average room occupancy rate (in percent)
	COMOTEL 7/			25.2	24.5	31.0	...	...	...
	Galawa			72.0	70.0	64.0	...	...	...
Turnover
	(in billions of Comorian francs)			3.9	3.6	3.5	...	...	...
	of which: COMOTEL			0.6	0.5	0.4	...	...	...
			Galawa	3.3	3.1	3.1	...	...	...

Source: General Directorate of Tourism, Ministry of Transportation and Tourism.

^{^1/}No official data have been provided by the Galawa Hotel.

^{^2/}Members of the Cooperation Council for the Arab States of the Gulf.

^{^3/}Estimate for 1991.

^{^4/}Includes the Ylang-Ylang, Coelacanthe, Maloudja, and Al Amal hotels.

^{^5/}The Sun Resorts Group includes the Galawa, Maloudja, and Itsandra hotels.

^{^6/}Includes the Itsandra, Kartala, and, since 1986, the Relais de Singali hotels.

^{^7/}From 1993, includes the other hotels.

Table 8.

Comoros: Indicators of Population, Employment, and Education,1991-98

Sources: Directorate of Statistics; Ministry of Health, Social Affairs, and Education.

^{^1/}Includes the training school for teachers.

^{^2/}Since 1994, the number of state scholarships granted.

Table 8.

Comoros: Indicators of Population, Employment, and Education,1991-98

					1991	1992	1993	1994	1995	1996	1997	1998
Population and employment
	Total population (in thousands)				446.8	458.9	471.3	484.0	497.0	506.7	517.3	527.9
	Labor force (in thousands)				126.5	129.9	133.4	137.0	140.7	144.5	...	...
		of which: wage earners			15.9	...	...	...	...	...	...	...
	Unemployed (in thousands)				25.2	...	...	...	...	...	...	...
	Unemployed (in percent of labor force)				20.0	...	...	...	...	...	...	...
Education
	Primary enrollment
		(number of pupils)			62,680	...	72,759	77,919	78.527	...	...	...
			of which: public		...	...	...	75,192	31,916	...	...	...
				private	...	...	...	2,727	46,611	...	...	...
		(in percent of 7-to 12-year-old popula			...
	Secondary enrollment				15,681	...	13,285	18,037	21,192	...	...	...
	Vocational schools 1/				174	...	...	598	437	...	...	...
	Higher education 2/				268	...	...	749	1,101	...	...	...

Sources: Directorate of Statistics; Ministry of Health, Social Affairs, and Education.

^{^1/}Includes the training school for teachers.

^{^2/}Since 1994, the number of state scholarships granted.

Table 8.

Comoros: Indicators of Population, Employment, and Education,1991-98

					1991	1992	1993	1994	1995	1996	1997	1998
Population and employment
	Total population (in thousands)				446.8	458.9	471.3	484.0	497.0	506.7	517.3	527.9
	Labor force (in thousands)				126.5	129.9	133.4	137.0	140.7	144.5	...	...
		of which: wage earners			15.9	...	...	...	...	...	...	...
	Unemployed (in thousands)				25.2	...	...	...	...	...	...	...
	Unemployed (in percent of labor force)				20.0	...	...	...	...	...	...	...
Education
	Primary enrollment
		(number of pupils)			62,680	...	72,759	77,919	78.527	...	...	...
			of which: public		...	...	...	75,192	31,916	...	...	...
				private	...	...	...	2,727	46,611	...	...	...
		(in percent of 7-to 12-year-old popula			...
	Secondary enrollment				15,681	...	13,285	18,037	21,192	...	...	...
	Vocational schools 1/				174	...	...	598	437	...	...	...
	Higher education 2/				268	...	...	749	1,101	...	...	...

Sources: Directorate of Statistics; Ministry of Health, Social Affairs, and Education.

^{^1/}Includes the training school for teachers.

^{^2/}Since 1994, the number of state scholarships granted.

Table 9.

Comoros: Consolidated Government Financial Operations,1994-99

(In millions of Comorian francs)

Sources: Ministry of Finance; and Fund staff estimates.

^{^1/}Excluding Anjouan for the last quarter of 1998.

^{^2/}Excluding Anjouan.

^{^3/}Expenditure made minus payments made.

^{^4/}Financing with the BIC and BCC.

^{^5/}Mainly claims of enterprises on the Treasury.

Table 9.

Comoros: Consolidated Government Financial Operations,1994-99

(In millions of Comorian francs)

					1994	1995	1996	1997	1998	1999
									Est.1/	Est.2/
Total revenue and grants					23,699	20,950	18,195	21,011	17,369	19,036
	Revenue				11,066	11,478	10,909	12,828	10,422	12,230
		Tax revenue			9,798	9,901	9,568	11,968	9,277	10,660
		Nontax revenue			1,268	1,577	1,341	860	1,146	1,570
	External grants				12,633	9,472	7,286	8,182	6,947	6,806
		Budgetary assistance			2,418	793	1,380	250	–	–
		Project and technical
				assistance financing	10,215	8,679	5,906	7,932	6,947	6,359
		Other nonbudgetsay aid			–	–	–	–	–	447
Total expenditure and net lending					29,640	27,310	23,353	23,076	21,038	19,669
	Current expenditure				20,136	21,477	18,239	17,512	13,648	14,138
		Budgetary			14,836	15,977	13,873	13,012	11,886	13,055
			Wages and salaries		6,871	7,728	8,285	8,553	7,190	6,430
			Goods and services		6,008	6,110	4,149	3,307	3,121	4,642
			Transfers		1,048	1,327	662	265	615	1,033
			Interest payments		910	812	777	887	960	950
		Technical assistance 3/			5,300	5,500	4,366	4,500	1,762	1,083
	Capital expenditure				8,019	5,545	5,115	5,564	7,390	5,531
		Budgetary			638	475	703	400	360	192
		Financed externally			7,382	5,070	4,411	5,164	7,030	5,339
	Net lending				393	–	–	–	–	–
Overall balance (payment order)					-5,941	-6,359	-5,159	-2,065	-3,669	-633
	Excluding grants				-18,574	-15,831	-12,444	-10,247	-10,616	-7,439
Change in net arrears					211	4,227	1,694	947	2,677	624
	Interest on external debt				-786	630	590	122	887	534
	Domestic arrears				997	3,597	1,105	825	1,790	90
Others (unidentified residuals)					–	–	–	–	-2,748	544
Overall balance (cash basis)					-5,730	-2,132	-3,464	-1,118	-3,740	536
Financing					5,730	2,132	3,464	1,118	3,740	-536
	Foreign (net)				4,462	2,961	2,536	1,695	1,593	-504
			Drawings, PIP (identified)		2,467	1,891	2,872	1,731	1,845	63
			Drawings, adjustment loans		767	1,199	–	118	–	–
			Amortization		-7,970	-3,544	-6,138	-4,045	-3,782	-4,367
			Exceptional financing		8,090	807	3,434	2,220	–	–
			Arrears (principal)		1,108	2,609	2,369	1,671	3,530	3,801
	Domestic (net)				1,268	-829	928	-577	2,147	-32
			Bank financing 4/		1,372	897	-133	-34	1,615	-21
				IMF (SAF)	–	–	–	–	–	–
			Deposits at Treasury 5/		-474	-1,324	1,061	-543	532	-11
			Nonbank financing		370	-402	–	–	–	–
Financing need					–	–	–	–	–	–

Sources: Ministry of Finance; and Fund staff estimates.

^{^1/}Excluding Anjouan for the last quarter of 1998.

^{^2/}Excluding Anjouan.

^{^3/}Expenditure made minus payments made.

^{^4/}Financing with the BIC and BCC.

^{^5/}Mainly claims of enterprises on the Treasury.

Table 9.

Comoros: Consolidated Government Financial Operations,1994-99

(In millions of Comorian francs)

					1994	1995	1996	1997	1998	1999
									Est.1/	Est.2/
Total revenue and grants					23,699	20,950	18,195	21,011	17,369	19,036
	Revenue				11,066	11,478	10,909	12,828	10,422	12,230
		Tax revenue			9,798	9,901	9,568	11,968	9,277	10,660
		Nontax revenue			1,268	1,577	1,341	860	1,146	1,570
	External grants				12,633	9,472	7,286	8,182	6,947	6,806
		Budgetary assistance			2,418	793	1,380	250	–	–
		Project and technical
				assistance financing	10,215	8,679	5,906	7,932	6,947	6,359
		Other nonbudgetsay aid			–	–	–	–	–	447
Total expenditure and net lending					29,640	27,310	23,353	23,076	21,038	19,669
	Current expenditure				20,136	21,477	18,239	17,512	13,648	14,138
		Budgetary			14,836	15,977	13,873	13,012	11,886	13,055
			Wages and salaries		6,871	7,728	8,285	8,553	7,190	6,430
			Goods and services		6,008	6,110	4,149	3,307	3,121	4,642
			Transfers		1,048	1,327	662	265	615	1,033
			Interest payments		910	812	777	887	960	950
		Technical assistance 3/			5,300	5,500	4,366	4,500	1,762	1,083
	Capital expenditure				8,019	5,545	5,115	5,564	7,390	5,531
		Budgetary			638	475	703	400	360	192
		Financed externally			7,382	5,070	4,411	5,164	7,030	5,339
	Net lending				393	–	–	–	–	–
Overall balance (payment order)					-5,941	-6,359	-5,159	-2,065	-3,669	-633
	Excluding grants				-18,574	-15,831	-12,444	-10,247	-10,616	-7,439
Change in net arrears					211	4,227	1,694	947	2,677	624
	Interest on external debt				-786	630	590	122	887	534
	Domestic arrears				997	3,597	1,105	825	1,790	90
Others (unidentified residuals)					–	–	–	–	-2,748	544
Overall balance (cash basis)					-5,730	-2,132	-3,464	-1,118	-3,740	536
Financing					5,730	2,132	3,464	1,118	3,740	-536
	Foreign (net)				4,462	2,961	2,536	1,695	1,593	-504
			Drawings, PIP (identified)		2,467	1,891	2,872	1,731	1,845	63
			Drawings, adjustment loans		767	1,199	–	118	–	–
			Amortization		-7,970	-3,544	-6,138	-4,045	-3,782	-4,367
			Exceptional financing		8,090	807	3,434	2,220	–	–
			Arrears (principal)		1,108	2,609	2,369	1,671	3,530	3,801
	Domestic (net)				1,268	-829	928	-577	2,147	-32
			Bank financing 4/		1,372	897	-133	-34	1,615	-21
				IMF (SAF)	–	–	–	–	–	–
			Deposits at Treasury 5/		-474	-1,324	1,061	-543	532	-11
			Nonbank financing		370	-402	–	–	–	–
Financing need					–	–	–	–	–	–

Sources: Ministry of Finance; and Fund staff estimates.

^{^1/}Excluding Anjouan for the last quarter of 1998.

^{^2/}Excluding Anjouan.

^{^3/}Expenditure made minus payments made.

^{^4/}Financing with the BIC and BCC.

^{^5/}Mainly claims of enterprises on the Treasury.

Table 10.

Comoros: Consolidated Government Revenue and Grants,1994-99

(In millions of Comorian francs)

Sources: Ministry of Finance; and Fund staff estimates.

^{^1/}As of October 1, 1991, represents a single 5 percent levy on the value, c.i.f., for miscellaneous taxes.

^{^2/}Introduced in September 1991 to replace various taxes on petroleum products and rice. 10 percent of the tax proceeds from petroleum products are credited to the Road Fund, and 90 percent to the budget, which is the amount shown here.

^{^3/}On-lending of public enterprises debt (previous fiscal years) and release of deposits.

Table 10.

Comoros: Consolidated Government Revenue and Grants,1994-99

(In millions of Comorian francs)

				1994	1995	1996	1997	1998	1999
Tax revenue				9,798	9,901	9,568	11,968	9,277	10,660
	Taxes on income and profits			1,399	1,403	1,044	1,436	1,598	2,084
		of which
			Corporate (IBD)	973	880	477	923	1,025	1,556
			Individual (IGR)	412	478	464	479	524	477
	Taxes on property			123	122	119	125	62	58
			Buildings	71	78	65	50	17	22
			Registration	52	44	54	75	45	36
	Taxes on goods and services			921	1,090	973	912	1,108	1,266
		Turnover		756	946	765	605	646	736
		Business and professional licenses		149	144	208	307	202	273
		Other		16	–	–	–	260	257
	Taxes on international trade			4,045	3,706	3,837	5,535	3,602	3,834
		Consumption tax on imports		1,860	1,711	1,254	300	–	–
		Import duties		967	926	568	–	–	–
		Single administrative fee 1/		395	369	242	–	–	–
		Export duties		555	309	123	132	123	12
		Other		269	390	1,650	5,103	3,479	3,822
	Unified tax 2/			3,132	3,303	3,565	3,899	2,879	3,169
		Petroleum products		2,103	2,240	2,377	2,376	2,225	2,376
		Rice		1,029	1,063	1,188	1,523	654	793
	Other tax revenue			178	277	31	61	28	249
	Nontax revenue			1,268	1,577	1,341	860	1,146	1,570
		Income from land		115	219	14	48	61	97
		Proceeds from services		525	442	572	129	262	406
		Other nontax revenue		628	916	755	684	823	1,067
	Total revenue			11,066	11,478	10,909	12,828	10,422	12,230
	Memorandum item:
		Total revenue, excluding exceptional factors 3/		11,066	11,478	10,909	12,828	10,422	12,230
	Grants			12,633	9,472	7,286	8,182	6,947	6,806
		Budgetary		2,418	793	1,380	250	–	–
		Project financing and technical
			assistance	10,215	8,679	5,906	7,932	6,947	6,359
		Other nonbudgetary assistance		–	–	–	–	–	447
	Total revenue and grants			23,699	20,950	18,195	21,011	17,369	19,036

Sources: Ministry of Finance; and Fund staff estimates.

^{^1/}As of October 1, 1991, represents a single 5 percent levy on the value, c.i.f., for miscellaneous taxes.

^{^3/}On-lending of public enterprises debt (previous fiscal years) and release of deposits.

Table 10.

Comoros: Consolidated Government Revenue and Grants,1994-99

(In millions of Comorian francs)

				1994	1995	1996	1997	1998	1999
Tax revenue				9,798	9,901	9,568	11,968	9,277	10,660
	Taxes on income and profits			1,399	1,403	1,044	1,436	1,598	2,084
		of which
			Corporate (IBD)	973	880	477	923	1,025	1,556
			Individual (IGR)	412	478	464	479	524	477
	Taxes on property			123	122	119	125	62	58
			Buildings	71	78	65	50	17	22
			Registration	52	44	54	75	45	36
	Taxes on goods and services			921	1,090	973	912	1,108	1,266
		Turnover		756	946	765	605	646	736
		Business and professional licenses		149	144	208	307	202	273
		Other		16	–	–	–	260	257
	Taxes on international trade			4,045	3,706	3,837	5,535	3,602	3,834
		Consumption tax on imports		1,860	1,711	1,254	300	–	–
		Import duties		967	926	568	–	–	–
		Single administrative fee 1/		395	369	242	–	–	–
		Export duties		555	309	123	132	123	12
		Other		269	390	1,650	5,103	3,479	3,822
	Unified tax 2/			3,132	3,303	3,565	3,899	2,879	3,169
		Petroleum products		2,103	2,240	2,377	2,376	2,225	2,376
		Rice		1,029	1,063	1,188	1,523	654	793
	Other tax revenue			178	277	31	61	28	249
	Nontax revenue			1,268	1,577	1,341	860	1,146	1,570
		Income from land		115	219	14	48	61	97
		Proceeds from services		525	442	572	129	262	406
		Other nontax revenue		628	916	755	684	823	1,067
	Total revenue			11,066	11,478	10,909	12,828	10,422	12,230
	Memorandum item:
		Total revenue, excluding exceptional factors 3/		11,066	11,478	10,909	12,828	10,422	12,230
	Grants			12,633	9,472	7,286	8,182	6,947	6,806
		Budgetary		2,418	793	1,380	250	–	–
		Project financing and technical
			assistance	10,215	8,679	5,906	7,932	6,947	6,359
		Other nonbudgetary assistance		–	–	–	–	–	447
	Total revenue and grants			23,699	20,950	18,195	21,011	17,369	19,036

Sources: Ministry of Finance; and Fund staff estimates.

^{^1/}As of October 1, 1991, represents a single 5 percent levy on the value, c.i.f., for miscellaneous taxes.

^{^3/}On-lending of public enterprises debt (previous fiscal years) and release of deposits.

Table 11.

Comoros: Consolidated Government Expenditure,1994-99 1/

(In millions of Comorian francs)

Sources: Ministry of Finance; and Fund staff estimates.

^{^1/}Includes the expenditure of central government, provinces, the Retirement Fund, the Chamber of Commerce, and the Road

Table 11.

Comoros: Consolidated Government Expenditure,1994-99 1/

(In millions of Comorian francs)

				1994	1995	1996	x1997	1998	1999
Total expenditure and net lending				29,640	27,310	23,353	23,076	21,038	22,140
Current expenditure				20,136	21,477	16,239	17,512	13,648	16,540
	Budget			14,836	15,977	13,873	13,012	11,886	10,127
		Personnel		6,871	7,728	8,285	8,553	7,190	5,760
		Goods and services		6,008	6,110	4,149	3,307	3,121	3,600
		Transfers		1,048	1,327	662	265	615	150
		Interest payments		910	812	777	887	960	617
			External	910	812	777	887	960	617
			Domestic	–	–	–	–	–	–
	Technical assistance			5,300	5,500	4,366	4,500	1,762	6,413
Capital expenditure				8,019	5,545	5,115	5,564	7,390	5,600
	Budgetary			638	475	703	400	360	400
	Financed with external resources			7,382	5,070	4,411	5,164	7,030	5,200
Net lending				393	–	–	–	–	–
	Budget			440	–	–	–	–	–
	Extrabudgetary			-47	–	–	–	–	–
Civil service action plan				1,091	288	–	–	–	–

Sources: Ministry of Finance; and Fund staff estimates.

^{^1/}Includes the expenditure of central government, provinces, the Retirement Fund, the Chamber of Commerce, and the Road

Table 11.

Comoros: Consolidated Government Expenditure,1994-99 1/

(In millions of Comorian francs)

				1994	1995	1996	x1997	1998	1999
Total expenditure and net lending				29,640	27,310	23,353	23,076	21,038	22,140
Current expenditure				20,136	21,477	16,239	17,512	13,648	16,540
	Budget			14,836	15,977	13,873	13,012	11,886	10,127
		Personnel		6,871	7,728	8,285	8,553	7,190	5,760
		Goods and services		6,008	6,110	4,149	3,307	3,121	3,600
		Transfers		1,048	1,327	662	265	615	150
		Interest payments		910	812	777	887	960	617
			External	910	812	777	887	960	617
			Domestic	–	–	–	–	–	–
	Technical assistance			5,300	5,500	4,366	4,500	1,762	6,413
Capital expenditure				8,019	5,545	5,115	5,564	7,390	5,600
	Budgetary			638	475	703	400	360	400
	Financed with external resources			7,382	5,070	4,411	5,164	7,030	5,200
Net lending				393	–	–	–	–	–
	Budget			440	–	–	–	–	–
	Extrabudgetary			-47	–	–	–	–	–
Civil service action plan				1,091	288	–	–	–	–

Sources: Ministry of Finance; and Fund staff estimates.

^{^1/}Includes the expenditure of central government, provinces, the Retirement Fund, the Chamber of Commerce, and the Road

Table 12.

Comoros: Wage Bill Developments by Ministry,1994-99 1/

(In millions of Comorian francs)

Source: General Directorate of Budget/Civil Service, Ministry of Finance; and Fund staff estimates.

^{^1/}Only includes budgeted expenditures on wages and salaries, which are paid by the Ministry of Civil Service. Protectorats are excluded.

^{^2/}Defense is included in the 1998 figure for Presidency.

^{^3/}Includes embassies in 1996.

^{^4/}Excluding Anjouan for the last quarter of 1998.

^{^5/}Excluding Anjouan.

Table 12.

Comoros: Wage Bill Developments by Ministry,1994-99 1/

(In millions of Comorian francs)

	1994	1995	1996	1997	1998	1999
					4/	5/
Federal Assembly	273.7	322,4	135.0	...	377	189
Constitutional Council	...	51.8	18.0	...	120	42
Office of the President 2/	151.5	172.7	288.0	...	956	284
Defense	...	...	...	...	...	...
Office of the Prime Minister	263.7	247.6	239.0	...	327	177
Foreign Affairs 3/	79.6	315,4	343.0	...	418	403
Embassies	...	...	...	...	...	...
National Security	75.7	79.8	86.0	...	174	166
Finance and Budget	441.1	525.0	471.0	...	559	514
Economy, Planning, and Commerce	70.7	81.1	...	...	42	48
Infrastructure, Urbanism, and Housing	138.8	147.2	...	...	129	101
National Education	2,659.7	3,023.8	3,316.0	...	2,861	2,021
Rural Development	232.1	254.5	259.0	...	191	176
Social Affairs, Labor, and Employment	20.6	30.9	–	...	–	–
Health	609.4	617.9	739.0	...	596	487
Transportation and Tourism	99.4	118.2	126.0	...	156	161
Information, Youth, Culture, and Sport	120.0	123.6	0.0	...	...	...
Islamic Affairs	115.4	118.1	0.0	...	...	...
Civil Service and Justice	33.4	100.4	0.0	...	278	284
Other ministries	0.0	0.0	721.0	...	7	140
Total	5,384.8	6,330.4	6,741.0	...	7,189.2	5,190.4

Source: General Directorate of Budget/Civil Service, Ministry of Finance; and Fund staff estimates.

^{^1/}Only includes budgeted expenditures on wages and salaries, which are paid by the Ministry of Civil Service. Protectorats are excluded.

^{^2/}Defense is included in the 1998 figure for Presidency.

^{^3/}Includes embassies in 1996.

^{^4/}Excluding Anjouan for the last quarter of 1998.

^{^5/}Excluding Anjouan.

Table 12.

Comoros: Wage Bill Developments by Ministry,1994-99 1/

(In millions of Comorian francs)

	1994	1995	1996	1997	1998	1999
					4/	5/
Federal Assembly	273.7	322,4	135.0	...	377	189
Constitutional Council	...	51.8	18.0	...	120	42
Office of the President 2/	151.5	172.7	288.0	...	956	284
Defense	...	...	...	...	...	...
Office of the Prime Minister	263.7	247.6	239.0	...	327	177
Foreign Affairs 3/	79.6	315,4	343.0	...	418	403
Embassies	...	...	...	...	...	...
National Security	75.7	79.8	86.0	...	174	166
Finance and Budget	441.1	525.0	471.0	...	559	514
Economy, Planning, and Commerce	70.7	81.1	...	...	42	48
Infrastructure, Urbanism, and Housing	138.8	147.2	...	...	129	101
National Education	2,659.7	3,023.8	3,316.0	...	2,861	2,021
Rural Development	232.1	254.5	259.0	...	191	176
Social Affairs, Labor, and Employment	20.6	30.9	–	...	–	–
Health	609.4	617.9	739.0	...	596	487
Transportation and Tourism	99.4	118.2	126.0	...	156	161
Information, Youth, Culture, and Sport	120.0	123.6	0.0	...	...	...
Islamic Affairs	115.4	118.1	0.0	...	...	...
Civil Service and Justice	33.4	100.4	0.0	...	278	284
Other ministries	0.0	0.0	721.0	...	7	140
Total	5,384.8	6,330.4	6,741.0	...	7,189.2	5,190.4

Source: General Directorate of Budget/Civil Service, Ministry of Finance; and Fund staff estimates.

^{^1/}Only includes budgeted expenditures on wages and salaries, which are paid by the Ministry of Civil Service. Protectorats are excluded.

^{^2/}Defense is included in the 1998 figure for Presidency.

^{^3/}Includes embassies in 1996.

^{^4/}Excluding Anjouan for the last quarter of 1998.

^{^5/}Excluding Anjouan.

Table 13.

Comoros: Breakdown of the Goverment Wage Bill,1994-99

(In Comorian francs)

Source: General Directorate of Budget/Civil Service, Ministry of Finance.

^{^1/}Excluding embassies and defense.

^{^2/}Including embassies.

Table 13.

Comoros: Breakdown of the Goverment Wage Bill,1994-99

(In Comorian francs)

			1994	1995	1996	1997	1998	1999
			1/	1/	1/	1/	2/	2/
Basic salaries			4,036	4,589	4,930	5,206	4,633	3,819
Allowances			1,260	1,585	1,635	1,197	967	1,344
	Function		163	203	176	96	82	136
	Housing		544	758	823	654	626	798
	Teaching (teachers)		239	233	242	232	156	198
	Indemnité de sujétion		108	120	115	15	27	25
	Indemnité de remise		55	68	71	75	70	60
	Geographic		53	75	88	–	–	–
	Other		97	129	120	125	211	127
Employer contributions			299	369	398	418	347	291
		Total	5,595	6,543	6,963	6,821	5,947	5,454

Source: General Directorate of Budget/Civil Service, Ministry of Finance.

^{^1/}Excluding embassies and defense.

^{^2/}Including embassies.

Table 13.

Comoros: Breakdown of the Goverment Wage Bill,1994-99

(In Comorian francs)

			1994	1995	1996	1997	1998	1999
			1/	1/	1/	1/	2/	2/
Basic salaries			4,036	4,589	4,930	5,206	4,633	3,819
Allowances			1,260	1,585	1,635	1,197	967	1,344
	Function		163	203	176	96	82	136
	Housing		544	758	823	654	626	798
	Teaching (teachers)		239	233	242	232	156	198
	Indemnité de sujétion		108	120	115	15	27	25
	Indemnité de remise		55	68	71	75	70	60
	Geographic		53	75	88	–	–	–
	Other		97	129	120	125	211	127
Employer contributions			299	369	398	418	347	291
		Total	5,595	6,543	6,963	6,821	5,947	5,454

Source: General Directorate of Budget/Civil Service, Ministry of Finance.

^{^1/}Excluding embassies and defense.

^{^2/}Including embassies.

Table 14.

Comoros: Breakdown of Staffing Levels by Ministry,1994-99 1/

Source: General Directorate of Budget/Civil Service, Ministry of Finance.

^{^1/}Excluding embassies and defense.

Table 14.

Comoros: Breakdown of Staffing Levels by Ministry,1994-99 1/

	1994	1995	1996	1997	1998	1999
Federal Assembly	78	82	26	53	51	37
Constitutional Council	–	8	–	31	37	5
Office of the President	98	108	180	82	144	77
Foreign Affairs	51	76	92	95	93	84
National Security	110	122	129	185	199	172
Finance and Budget	413	439	465	467	464	445
Economy, Planning, and Commerce	70	76	1	62	68	65
Infrastructure, Urbanism, and Housing	156	151	–	130	133	122
National Education	2,828	2,791	2,889	3,003	2,972	2,794
Rural Development	230	224	–	200	201	182
Social Affairs, Labor, and Employment	22	25	–	–	–	–
Health	620	636	723	725	751	695
Transportation and Tourism	125	122	131	136	129	122
Information, Youth, Culture, and Sport	136	110	–	–	43	56
Islamic Affairs	18	168	–	121	125	127
Civil Service and Justice	136	42	–	64	73	77
Office of the Prime Minister	59	61	59	52	53	40
Ngazidja province	154	148	154	124	121	114
Ndzouani province	109	110	108	47	49	47
Mohéli province	47	45	46	84	84	84
Public enterprises	–	–	792	–	–	–
Contractuals paid manually	–	–	–	123	338	464
Other ministries	–	–	–	–	12	–
Total of civil servants paid by Ministry of Civil Service	5,460	5,544	5,795	5,784	6,140	5,809
Other public employees	97	1,064	123	505	504	784
Total of public employees	5,557	6,608	5,918	6,289	6,644	6,593

Source: General Directorate of Budget/Civil Service, Ministry of Finance.

^{^1/}Excluding embassies and defense.

Table 14.

Comoros: Breakdown of Staffing Levels by Ministry,1994-99 1/

	1994	1995	1996	1997	1998	1999
Federal Assembly	78	82	26	53	51	37
Constitutional Council	–	8	–	31	37	5
Office of the President	98	108	180	82	144	77
Foreign Affairs	51	76	92	95	93	84
National Security	110	122	129	185	199	172
Finance and Budget	413	439	465	467	464	445
Economy, Planning, and Commerce	70	76	1	62	68	65
Infrastructure, Urbanism, and Housing	156	151	–	130	133	122
National Education	2,828	2,791	2,889	3,003	2,972	2,794
Rural Development	230	224	–	200	201	182
Social Affairs, Labor, and Employment	22	25	–	–	–	–
Health	620	636	723	725	751	695
Transportation and Tourism	125	122	131	136	129	122
Information, Youth, Culture, and Sport	136	110	–	–	43	56
Islamic Affairs	18	168	–	121	125	127
Civil Service and Justice	136	42	–	64	73	77
Office of the Prime Minister	59	61	59	52	53	40
Ngazidja province	154	148	154	124	121	114
Ndzouani province	109	110	108	47	49	47
Mohéli province	47	45	46	84	84	84
Public enterprises	–	–	792	–	–	–
Contractuals paid manually	–	–	–	123	338	464
Other ministries	–	–	–	–	12	–
Total of civil servants paid by Ministry of Civil Service	5,460	5,544	5,795	5,784	6,140	5,809
Other public employees	97	1,064	123	505	504	784
Total of public employees	5,557	6,608	5,918	6,289	6,644	6,593

Source: General Directorate of Budget/Civil Service, Ministry of Finance.

^{^1/}Excluding embassies and defense.

Table 15.

Comoros: Monetary Survey,1994-1999

(In millions of Comorian francs; end of period)

Sources: Central Bank of the Comoros; and Fund staff estimates.

Table 15.

Comoros: Monetary Survey,1994-1999

(In millions of Comorian francs; end of period)

				1994	1995	1996	1997	1998	1999
Net foreign assets				16,401	15,697	19,339	18,765	17,737	19,890
	Central bank			16,289	14,901	18,499	16,838	15,398	17,124
		Assets		17,729	16,422	19,950	18,298	16,581	18,295
		Liabilities		-1,440	-1,521	-1,451	-1,460	-1,183	-1,171
	Commercial bank			112	796	840	1,927	2,339	2,766
		Assets		115	889	848	1,927	2,373	3,966
		Liabilities		-3	-93	-8	–	-34	-1,200
Net domestic assets				1,865	1,895	392	981	1,302	691
Domestic credit				9,961	11,705	9,674	10,474	12,528	12,285
	Net credit to government			1,286	2,183	2,050	2,016	3,631	3,610
			Credit to government	3,387	3,519	3,905	3,740	4,307	4,368
			Government deposits	-2,101	-1,336	-1,855	-1,724	-676	-758
		Claims on public enterprises		1,818	772	107	426	165	360
		Credit to private sector		6,857	8,750	7,517	8,032	8,732	8,315
Other items (net)				-8,096	-9,810	-9,282	-9,493	-11,226	-11,594
Broad money				18,266	17,592	19,731	19,746	19,039	20,581
	Money			12,356	12,150	13,564	11,975	12,056	13,545
		Currency in circulation		5,100	5,782	5,639	5,433	5,395	6,310
		Demand deposits		7,256	6,368	7,925	6,542	6,661	7,235
	Quasi-money			5,910	5,442	6,227	6,227	6,227	6,227

Sources: Central Bank of the Comoros; and Fund staff estimates.

Table 15.

Comoros: Monetary Survey,1994-1999

(In millions of Comorian francs; end of period)

				1994	1995	1996	1997	1998	1999
Net foreign assets				16,401	15,697	19,339	18,765	17,737	19,890
	Central bank			16,289	14,901	18,499	16,838	15,398	17,124
		Assets		17,729	16,422	19,950	18,298	16,581	18,295
		Liabilities		-1,440	-1,521	-1,451	-1,460	-1,183	-1,171
	Commercial bank			112	796	840	1,927	2,339	2,766
		Assets		115	889	848	1,927	2,373	3,966
		Liabilities		-3	-93	-8	–	-34	-1,200
Net domestic assets				1,865	1,895	392	981	1,302	691
Domestic credit				9,961	11,705	9,674	10,474	12,528	12,285
	Net credit to government			1,286	2,183	2,050	2,016	3,631	3,610
			Credit to government	3,387	3,519	3,905	3,740	4,307	4,368
			Government deposits	-2,101	-1,336	-1,855	-1,724	-676	-758
		Claims on public enterprises		1,818	772	107	426	165	360
		Credit to private sector		6,857	8,750	7,517	8,032	8,732	8,315
Other items (net)				-8,096	-9,810	-9,282	-9,493	-11,226	-11,594
Broad money				18,266	17,592	19,731	19,746	19,039	20,581
	Money			12,356	12,150	13,564	11,975	12,056	13,545
		Currency in circulation		5,100	5,782	5,639	5,433	5,395	6,310
		Demand deposits		7,256	6,368	7,925	6,542	6,661	7,235
	Quasi-money			5,910	5,442	6,227	6,227	6,227	6,227

Sources: Central Bank of the Comoros; and Fund staff estimates.

Table 16.

Comoros: Summary Statement of the Central Bank,1994-99

(In millions of Comorian francs; end of period)

Sources: Central bank of the Comoros; and Fund staff estimates.

Table 16.

Comoros: Summary Statement of the Central Bank,1994-99

(In millions of Comorian francs; end of period)

			1994	1995	1996	1997	1998	1999
Foreign assets			17,729	16,422	19,950	18,298	16,581	18,295
	of which
		Operations account with French Treasury	16,867	15,492	18,857	16,410	14,847	16,382
		Bank notes (CFA franc area)	147	148	149	149	149	149
		Gold	89	82	84	79	70	82
		SDR holdings	19	39	21	52	2	80
		Correspondents	-14	-8	11	46	6	7
		Reserve position with IMF	306	295	305	327	320	363
Claims on Government			3,483	3,589	3,569	3,646	3,806	3,814
	Statutory advances		1,898	1,991	1,981	2,034	2,226	2,234
	Other claims on Treasury		–	5	8	–	–	–
	Treasury (IMF account)		1,585	1,593	1,580	1,612	1,580	1,580
Claims on deposit money bank			–	–	–	–	50	50
Other assets			675	722	796	860	633	549
Assets=liabilities			21,887	20,733	24,315	22,804	21,069	22,708
Reserve money			9,756	8,870	11,936	10,454	9,323	11,104
	Currency in circulation		5,100	5,782	5,639	5,433	5,395	6,310
	Cash in banks		92	53	123	137	152	99
	Bank for Industry and Commerce deposits		3,082	1,691	4,651	4,232	3,432	3,729
	Development Bank deposits		1,307	1,223	874	17	309	938
	Public enterprise deposits		175	121	649	635	35	28
Government deposits			1,743	1,169	1,723	1,515	542	518
		Treasury account	30	20	63	38	30	61
		Government bodies	1,342	920	1,182	663	386	365
		Food aid services	264	124	186	147	–	–
		STABEX account 1/	39	6	126	107	81	47
		Cash at Treasury	68	99	166	560	45	45
Foreign liabilities			111	192	122	131	61	112
	Other correspondents		110	191	119	118	56	74
	Transactions under way		1	1	3	13	5	38
	IMF credit		–	–	–	–	–	–
	Other liabilities			10,277	10,502	10,534	10,704	11,143	10,974

Sources: Central bank of the Comoros; and Fund staff estimates.

Table 16.

Comoros: Summary Statement of the Central Bank,1994-99

(In millions of Comorian francs; end of period)

			1994	1995	1996	1997	1998	1999
Foreign assets			17,729	16,422	19,950	18,298	16,581	18,295
	of which
		Operations account with French Treasury	16,867	15,492	18,857	16,410	14,847	16,382
		Bank notes (CFA franc area)	147	148	149	149	149	149
		Gold	89	82	84	79	70	82
		SDR holdings	19	39	21	52	2	80
		Correspondents	-14	-8	11	46	6	7
		Reserve position with IMF	306	295	305	327	320	363
Claims on Government			3,483	3,589	3,569	3,646	3,806	3,814
	Statutory advances		1,898	1,991	1,981	2,034	2,226	2,234
	Other claims on Treasury		–	5	8	–	–	–
	Treasury (IMF account)		1,585	1,593	1,580	1,612	1,580	1,580
Claims on deposit money bank			–	–	–	–	50	50
Other assets			675	722	796	860	633	549
Assets=liabilities			21,887	20,733	24,315	22,804	21,069	22,708
Reserve money			9,756	8,870	11,936	10,454	9,323	11,104
	Currency in circulation		5,100	5,782	5,639	5,433	5,395	6,310
	Cash in banks		92	53	123	137	152	99
	Bank for Industry and Commerce deposits		3,082	1,691	4,651	4,232	3,432	3,729
	Development Bank deposits		1,307	1,223	874	17	309	938
	Public enterprise deposits		175	121	649	635	35	28
Government deposits			1,743	1,169	1,723	1,515	542	518
		Treasury account	30	20	63	38	30	61
		Government bodies	1,342	920	1,182	663	386	365
		Food aid services	264	124	186	147	–	–
		STABEX account 1/	39	6	126	107	81	47
		Cash at Treasury	68	99	166	560	45	45
Foreign liabilities			111	192	122	131	61	112
	Other correspondents		110	191	119	118	56	74
	Transactions under way		1	1	3	13	5	38
	IMF credit		–	–	–	–	–	–
	Other liabilities			10,277	10,502	10,534	10,704	11,143	10,974

Sources: Central bank of the Comoros; and Fund staff estimates.

Table 17.

Comoros: Summary Statement of the Bank for Industry and Commerce,1994-99

(In millions of Comorian francs; end of period)

Sources: Central bank of the Comoros; and Fund staff estimates.

^{^1/}Deposits required by the Bank for Industry and Commerce for imports under letter of credit.

^{^2/}Principally the Stabilization Fund for Export Earnings.

Table 17.

Comoros: Summary Statement of the Bank for Industry and Commerce,1994-99

(In millions of Comorian francs; end of period)

		1994	1995	1996	1997	1998	1999
Reserves		3,082	1,631	4,719	4,024	3,511	3,796
	Cash	92	53	123	137	152	99
	Deposits at the Central bank	2,990	1,578	4,596	3,887	3,359	3,697
Foreign assets		115	889	848	1,927	2,373	3,966
Claims on government		–	–	415	94	501	554
Claims on private sector		6,761	8,680	7,438	8,032	8,682	8,315
Unclassified assets		2,556	1,365	467	923	490	751
Assets=liabilities		12,514	12,565	13,887	15,000	15,557	17,382
Demand deposits		3,596	4,170	4,487	4,518	4,413	4,386
Time and savings deposits		5,910	5,442	6,167	7,771	6,983	7,036
	Time deposits	1,542	550	239	305	–	–
	Savings deposits	4,160	4,708	5,531	5,975	6,871	7,036
	Blocked account 1/	208	184	397	1,491	112	–
Government deposits 2/		358	167	132	209	134	240
Foreign liabilities		3	93	8	–	34	1,200
Unclassified liabilities		2,647	2,693	3,093	2,502	3,993	4,520

Sources: Central bank of the Comoros; and Fund staff estimates.

^{^1/}Deposits required by the Bank for Industry and Commerce for imports under letter of credit.

^{^2/}Principally the Stabilization Fund for Export Earnings.

Table 17.

Comoros: Summary Statement of the Bank for Industry and Commerce,1994-99

(In millions of Comorian francs; end of period)

		1994	1995	1996	1997	1998	1999
Reserves		3,082	1,631	4,719	4,024	3,511	3,796
	Cash	92	53	123	137	152	99
	Deposits at the Central bank	2,990	1,578	4,596	3,887	3,359	3,697
Foreign assets		115	889	848	1,927	2,373	3,966
Claims on government		–	–	415	94	501	554
Claims on private sector		6,761	8,680	7,438	8,032	8,682	8,315
Unclassified assets		2,556	1,365	467	923	490	751
Assets=liabilities		12,514	12,565	13,887	15,000	15,557	17,382
Demand deposits		3,596	4,170	4,487	4,518	4,413	4,386
Time and savings deposits		5,910	5,442	6,167	7,771	6,983	7,036
	Time deposits	1,542	550	239	305	–	–
	Savings deposits	4,160	4,708	5,531	5,975	6,871	7,036
	Blocked account 1/	208	184	397	1,491	112	–
Government deposits 2/		358	167	132	209	134	240
Foreign liabilities		3	93	8	–	34	1,200
Unclassified liabilities		2,647	2,693	3,093	2,502	3,993	4,520

Sources: Central bank of the Comoros; and Fund staff estimates.

^{^1/}Deposits required by the Bank for Industry and Commerce for imports under letter of credit.

^{^2/}Principally the Stabilization Fund for Export Earnings.

Table 18.

Comoros: Summary Statement of Other Banking Institutions,1994-99 1/

(In millions of Comorian francs; end of period)

Source: Central Bank of the Comoros.

^{^1/}Banque de Développement des Comores (Development Bank) and Caisse Nationale d’Epargne (National Savings Bank).

^{^2/}CREDICOM = Lending Company for the Development of the Comoros.

Table 18.

Comoros: Summary Statement of Other Banking Institutions,1994-99 1/

(In millions of Comorian francs; end of period)

			1994	1995	1996	1997	1998	1999
Reserves			1,350	1,250	856	88	475	1,060
	Central Bank		1,313	1,228	843	25	385	937
	Bank for Industry and Commerce		37	21	7	60	85	117
	Cash balances		–	1	6	3	5	6
Foreign assets			4	2	5	–	89	96
Claims on government			11	–	–	–	–	–
	Deposits at the treasury		11	–	–	–	–	–
Claims on public enterprises			427	302	722	693	468	130
Claims on the private sector			1,566	1,898	2,307	3,329	3,570	3,199
	Long-term		543	559	817	1,042	971	666
	Medium-term		743	954	990	1,755	1,260	351
	Trust accounts
		CREDICOM 2/	230	297	311	306	213	208
		Fisheries	–	–	–	–	82	83
	Dubious claims		50	43	62	71	955	1,849
	Other		–	45	127	155	89	42
Fixed assets			87	91	101	89	187	185
Unclassified assets			52	68	42	29	-20	-64
Assets=liabilities			3,497	3,611	4,033	4,228	4,769	4,606
Term and Savings deposits			387	267	693	693	708	768
Government deposits			–	–	–	–	263	153
Long-term foreign liabilities			1,838	1,964	1,588	1,633	845	688
Government lending funds			230	296	317	306	883	896
Capital accounts			918	1,008	1,347	1,494	2,090	1,971
	Paid-in capital		300	300	300	300	300	300
	Reserves		618	708	1,047	1,194	1,790	1,671
Other liabilities			124	76	88	102	243	283

Source: Central Bank of the Comoros.

^{^1/}Banque de Développement des Comores (Development Bank) and Caisse Nationale d’Epargne (National Savings Bank).

^{^2/}CREDICOM = Lending Company for the Development of the Comoros.

Table 18.

Comoros: Summary Statement of Other Banking Institutions,1994-99 1/

(In millions of Comorian francs; end of period)

			1994	1995	1996	1997	1998	1999
Reserves			1,350	1,250	856	88	475	1,060
	Central Bank		1,313	1,228	843	25	385	937
	Bank for Industry and Commerce		37	21	7	60	85	117
	Cash balances		–	1	6	3	5	6
Foreign assets			4	2	5	–	89	96
Claims on government			11	–	–	–	–	–
	Deposits at the treasury		11	–	–	–	–	–
Claims on public enterprises			427	302	722	693	468	130
Claims on the private sector			1,566	1,898	2,307	3,329	3,570	3,199
	Long-term		543	559	817	1,042	971	666
	Medium-term		743	954	990	1,755	1,260	351
	Trust accounts
		CREDICOM 2/	230	297	311	306	213	208
		Fisheries	–	–	–	–	82	83
	Dubious claims		50	43	62	71	955	1,849
	Other		–	45	127	155	89	42
Fixed assets			87	91	101	89	187	185
Unclassified assets			52	68	42	29	-20	-64
Assets=liabilities			3,497	3,611	4,033	4,228	4,769	4,606
Term and Savings deposits			387	267	693	693	708	768
Government deposits			–	–	–	–	263	153
Long-term foreign liabilities			1,838	1,964	1,588	1,633	845	688
Government lending funds			230	296	317	306	883	896
Capital accounts			918	1,008	1,347	1,494	2,090	1,971
	Paid-in capital		300	300	300	300	300	300
	Reserves		618	708	1,047	1,194	1,790	1,671
Other liabilities			124	76	88	102	243	283

Source: Central Bank of the Comoros.

^{^1/}Banque de Développement des Comores (Development Bank) and Caisse Nationale d’Epargne (National Savings Bank).

^{^2/}CREDICOM = Lending Company for the Development of the Comoros.

Table 19.

Comoros: Structure of Interest Rates,1996-99 1/

(In percent)

Source: Central Bank of the Comoros.

^{^1/}End-of-period

Table 19.

Comoros: Structure of Interest Rates,1996-99 1/

(In percent)

		1996	1997	1998	1999
Central bank rates
	Claims on government	5.5	4.8	4.8	3.7
	Deposits from Treasury	5.5	4.5	4.5	2.9
	Discount rate	8.5	7.0	7.0	5.9
Commercial bank lending rate		11,0/18.0	11.0/18.0	11.0/18.0	9.0/15.0
Depositor rates
	Demand deposits	0.0	0.0	0.0	0.0
	Time deposits	5.0	3.0/4.0	3.0/4.0	3.0
	Savings deposits	5.0-5.5	3.0	3.0	3.0

Source: Central Bank of the Comoros.

^{^1/}End-of-period

Table 19.

Comoros: Structure of Interest Rates,1996-99 1/

(In percent)

		1996	1997	1998	1999
Central bank rates
	Claims on government	5.5	4.8	4.8	3.7
	Deposits from Treasury	5.5	4.5	4.5	2.9
	Discount rate	8.5	7.0	7.0	5.9
Commercial bank lending rate		11,0/18.0	11.0/18.0	11.0/18.0	9.0/15.0
Depositor rates
	Demand deposits	0.0	0.0	0.0	0.0
	Time deposits	5.0	3.0/4.0	3.0/4.0	3.0
	Savings deposits	5.0-5.5	3.0	3.0	3.0

Source: Central Bank of the Comoros.

^{^1/}End-of-period

Table 20.

Comoros: Balance of Payments,1994-1999

(In millions of U.S. dollars)

Sources: Central Bank of the Comoros; Ministry of Finance; and Fund staff estimates.

^{^1/}Including arrears.

Table 20.

Comoros: Balance of Payments,1994-1999

(In millions of U.S. dollars)

				1994	1995	1996	1997	1998	1999
								Est.	Est.
Trade balance				-34.0	-42.2	-42.6	-42.1	-35.6	-35.3
				0.0	0.0	0.0	0.0	0.0	0.0
	Exports, f.o.b.			10.8	11.3	6.3	6.0	5.9	8.1
		Vanilla		6.6	6.2	2.7	2.6	2.3	3.9
		Cloves		1.3	0.4	0.5	0.8	0.5	1.3
		Ylang-ylang		2.2	2.3	1.7	1.6	1.8	1.6
		Other		0.7	2.5	1.4	1.0	1.3	1.3
				0.0	0.0	0.0	0.0	0.0	0.0
	Imports, f.o.b.			-44.8	-53.5	-49.0	-48.1	-41.4	-43.4
				0.0	0.0	0.0	0.0	0.0	0.0
Services balance (net)				-15.6	-14.3	-10.1	-3.8	6.2	7.3
				0.0	0.0	0.0	0.0	0.0	0.0
	Freight and insurance			-12.1	-14.4	-13.2	-13.0	-11.3	-11.8
	Other transportation			-3.7	-5.0	-5.3	-4.7	-0.2	-0.4
	Travel			10.4	14.3	17.7	16.0	25.4	26.8
	Investment income			2.6	3.2	2.4	2.3	1.8	2.0
	Interest payments			-2.2	-2.2	-2.0	-2.0	-2.2	-2.1
	Other services			-10.7	-10.3	-9.8	-8.9	-7.4	-7.2
				0.0	0.0	0.0	0.0	0.0	0.0
Private transfers (net)				7.1	8.7	12.1	11.4	11.3	12.8
Current account (excluding official transfers)				-42.5	-47.8	-40.7	-34.5	-18.1	-15.2
Official transfers				31.0	27.2	20.6	22.8	23.3	15.3
				0.0	0.0	0.0	0.0	0.0	0.0
Current account (including official transfers)				-11.5	-20.6	-20.1	-11.6	5.2	0.1
Direct investment				0.4	0.9	0.9	0.2	0.4	0.3
Medium- and long-term borrowing				-10.6	1.2	-7.3	-4.8	-3.8	-6.1
	Gross borrowing			8.6	10.6	8.7	4.4	5.0	3.4
	Amortization			-19.1	-9.5	-16.0	-9.2	-8.8	-9.5
Trade-related credits				4.5	1.3	0.2	1.6	-1.6	0.3
Commercial banks				0.4	-1.8	-0.1	-2.5	-0.9	-0.9
		Foreign assets		1.7	-2.1	0.1	-2.5	-1.0	-3.5
		Foreign liabilities		-1.2	0.2	-0.2	0.0	0.1	2.5
Short-term capital (including errors & omissions)				-4.2	4.5	19.2	4.2	-12.2	0.4
Capital account				-9.5	6.1	12.9	-1.3	-18.1	-6.0
Overall balance				-21.0	-14.5	-7.3	-13.0	-13.0	-5.9
Financing				21.0	14.5	7.3	13.0	13.0	5.9
	Central bank			-12.8	3.7	-9.4	3.8	3.2	-3.7
		Gross foreign assets of Central Bank		0.0	3.5	-9.2	3.8	3.8	-3.7
		Net use of Fund credit		1.9	0.0	0.0	-0.2	-0.2	-0.4
		Others (net)		0.0	0.2	-0.2	0.3	-0.4	0.4
	Valuation change			13.6	0.0	0.0	0.0	0.0	0.0
	Change in arrears			0.8	8.7	7.7	4.1	9.8	9.6
	Exceptional financing			19.4	2.2	8.9	5.1	0.0	0.0
	Financing gap			0.0	0.0	0.0	0.0	0.0	0.0
Memorandum items:
		Gross foreign assets of the Central Bank		42.6	43.9	52.0	41.8	36.7	39.7
			In months of imports of goods and nonfactor services	0.0	0.0	0.0	0.0	0.0	0.0
		Nominal stock of debt in percent of GDP 1/		0.0	0.3	0.2	0.2	0.2	0.2
		Debt service in percent of exports of goods and nonfactor services		0.0	0.1	0.1	0.1	0.1	0.0

Sources: Central Bank of the Comoros; Ministry of Finance; and Fund staff estimates.

^{^1/}Including arrears.

Table 20.

Comoros: Balance of Payments,1994-1999

(In millions of U.S. dollars)

				1994	1995	1996	1997	1998	1999
								Est.	Est.
Trade balance				-34.0	-42.2	-42.6	-42.1	-35.6	-35.3
				0.0	0.0	0.0	0.0	0.0	0.0
	Exports, f.o.b.			10.8	11.3	6.3	6.0	5.9	8.1
		Vanilla		6.6	6.2	2.7	2.6	2.3	3.9
		Cloves		1.3	0.4	0.5	0.8	0.5	1.3
		Ylang-ylang		2.2	2.3	1.7	1.6	1.8	1.6
		Other		0.7	2.5	1.4	1.0	1.3	1.3
				0.0	0.0	0.0	0.0	0.0	0.0
	Imports, f.o.b.			-44.8	-53.5	-49.0	-48.1	-41.4	-43.4
				0.0	0.0	0.0	0.0	0.0	0.0
Services balance (net)				-15.6	-14.3	-10.1	-3.8	6.2	7.3
				0.0	0.0	0.0	0.0	0.0	0.0
	Freight and insurance			-12.1	-14.4	-13.2	-13.0	-11.3	-11.8
	Other transportation			-3.7	-5.0	-5.3	-4.7	-0.2	-0.4
	Travel			10.4	14.3	17.7	16.0	25.4	26.8
	Investment income			2.6	3.2	2.4	2.3	1.8	2.0
	Interest payments			-2.2	-2.2	-2.0	-2.0	-2.2	-2.1
	Other services			-10.7	-10.3	-9.8	-8.9	-7.4	-7.2
				0.0	0.0	0.0	0.0	0.0	0.0
Private transfers (net)				7.1	8.7	12.1	11.4	11.3	12.8
Current account (excluding official transfers)				-42.5	-47.8	-40.7	-34.5	-18.1	-15.2
Official transfers				31.0	27.2	20.6	22.8	23.3	15.3
				0.0	0.0	0.0	0.0	0.0	0.0
Current account (including official transfers)				-11.5	-20.6	-20.1	-11.6	5.2	0.1
Direct investment				0.4	0.9	0.9	0.2	0.4	0.3
Medium- and long-term borrowing				-10.6	1.2	-7.3	-4.8	-3.8	-6.1
	Gross borrowing			8.6	10.6	8.7	4.4	5.0	3.4
	Amortization			-19.1	-9.5	-16.0	-9.2	-8.8	-9.5
Trade-related credits				4.5	1.3	0.2	1.6	-1.6	0.3
Commercial banks				0.4	-1.8	-0.1	-2.5	-0.9	-0.9
		Foreign assets		1.7	-2.1	0.1	-2.5	-1.0	-3.5
		Foreign liabilities		-1.2	0.2	-0.2	0.0	0.1	2.5
Short-term capital (including errors & omissions)				-4.2	4.5	19.2	4.2	-12.2	0.4
Capital account				-9.5	6.1	12.9	-1.3	-18.1	-6.0
Overall balance				-21.0	-14.5	-7.3	-13.0	-13.0	-5.9
Financing				21.0	14.5	7.3	13.0	13.0	5.9
	Central bank			-12.8	3.7	-9.4	3.8	3.2	-3.7
		Gross foreign assets of Central Bank		0.0	3.5	-9.2	3.8	3.8	-3.7
		Net use of Fund credit		1.9	0.0	0.0	-0.2	-0.2	-0.4
		Others (net)		0.0	0.2	-0.2	0.3	-0.4	0.4
	Valuation change			13.6	0.0	0.0	0.0	0.0	0.0
	Change in arrears			0.8	8.7	7.7	4.1	9.8	9.6
	Exceptional financing			19.4	2.2	8.9	5.1	0.0	0.0
	Financing gap			0.0	0.0	0.0	0.0	0.0	0.0
Memorandum items:
		Gross foreign assets of the Central Bank		42.6	43.9	52.0	41.8	36.7	39.7
			In months of imports of goods and nonfactor services	0.0	0.0	0.0	0.0	0.0	0.0
		Nominal stock of debt in percent of GDP 1/		0.0	0.3	0.2	0.2	0.2	0.2
		Debt service in percent of exports of goods and nonfactor services		0.0	0.1	0.1	0.1	0.1	0.0

Sources: Central Bank of the Comoros; Ministry of Finance; and Fund staff estimates.

^{^1/}Including arrears.

Table 21.

Comoros: Balance of Payments,1994-1999

(In millions of Comorian francs)

Sources: Central Bank of the Comoros; Ministry of Finance; and Fund staff estimates.

^{^1/}Including arrears.

Table 21.

Comoros: Balance of Payments,1994-1999

(In millions of Comorian francs)

				1994	1995	1996	1997	1998	1999
								Est.	Est.
Trade balance				-14,154	-15,790	-16,357	-18,447	-16,079	-16,279
	Exports, f.o.b.			4,491	4,236	2,436	2,630	2.652	3,725
		Vanilla		2,767	2,320	1,035	1,119	1,058	1,788
		Cloves		522	134	210	359	204	578
		Ylang-ylang		930	855	645	716	793	753
		Other		272	927	546	435	597	606
	Imports, f.o.b.			-18,645	-20,026	-18,793	-21,077	-18,731	-20,004
Services balance (net)				-6,493	-5,361	-3,893	-1,643	2,804	3,359
	Freight and insurance			-5,044	-5,385	-5,056	-5,699	-5,100	-5,447
	Other transportation			-1,546	-1,855	-2,027	-2,056	-69	-183
	Travel			4,344	5,363	6,806	7,010	11,464	12,341
	Investment income			1,098	1,193	918	989	815	940
	Interest payments			-910	-812	-777	-887	-978	-964
	Other services			-4,436	-3,865	-3,756	-3,909	-3,328	-3,328
Private transfers (net)				2,961	3,260	4,626	5,000	5,100	5,907
Current account (excluding official transfers)				-17,686	-17,891	-15,624	-15,090	-8,175	-7,013
Official transfers				12,902	10,183	7,898	10,000	10,518	7,060
Current account (including official transfers)				-4,784	-7,708	-7,726	-5,090	2,343	47
Direct investment				167	333	360	100	170	125
Medium- and long-term borrowing				-4,406	439	-2,797	-2,115	-1,698	-2,796
	Gross borrowing			3,564	3,983	3,341	1,930	2,272	1,571
	Amortization			-7,970	-3,544	-6,138	-4,045	-3,970	-4,367
Trade-related credits				1,853	494	59	683	-742	137
Commercial banks				185	-684	-44	-1,087	-412	-427
		Foreign assets		689	-774	41	-1,079	-446	-1,593
		Foreign liabilities		-504	90	-85	-8	34	1,166
Short-term capital (including errors & omissions)				-1,757	1,692	7,355	1,835	-5,518	206
Capital account				-3,957	2,274	4,932	-584	-8,200	-2,755
Overall balance				-8,742	-5,433	-2,794	-5,674	-5,857	-2,709
Financing				8,742	5,433	2,794	5,674	5,857	2,709
	Central bank			-5,320	1,388	-3,598	1,661	1,440	-1,726
		Gross foreign assets of Central Bank		-6,259	1,307	-3,528	1,652	1,717	-1,714
		Net use of Fund credit		805	0	0	-108	-110	-199
		Others (net)		134	81	-70	117	-167	186
	Valuation change			5,649	0	0	0	0	0
	Change in arrears			322	3,239	2,958	1,793	4,417	4,435
	Exceptional financing			8,090	807	3,434	2,220	0	0
	Financing gap			0	0	0	0	0	0
Memorandum items:
		Gross foreign assets of the Central Bank		17,729	16,422	19,950	18,298	16,581	18,295
			In months of imports of goods and nonfactor services	5.8	5.1	6.5	6.6	5.7	6.1
	Nominal stock of debt in percent of GDP 1/			99.1	99.9	95.3	99.6	109.9	106.0
	Debt service in percent of exports of goods and nonfactor services			56.5	25.4	42.7	37.3	22.8	22.9

Sources: Central Bank of the Comoros; Ministry of Finance; and Fund staff estimates.

^{^1/}Including arrears.

Table 21.

Comoros: Balance of Payments,1994-1999

(In millions of Comorian francs)

				1994	1995	1996	1997	1998	1999
								Est.	Est.
Trade balance				-14,154	-15,790	-16,357	-18,447	-16,079	-16,279
	Exports, f.o.b.			4,491	4,236	2,436	2,630	2.652	3,725
		Vanilla		2,767	2,320	1,035	1,119	1,058	1,788
		Cloves		522	134	210	359	204	578
		Ylang-ylang		930	855	645	716	793	753
		Other		272	927	546	435	597	606
	Imports, f.o.b.			-18,645	-20,026	-18,793	-21,077	-18,731	-20,004
Services balance (net)				-6,493	-5,361	-3,893	-1,643	2,804	3,359
	Freight and insurance			-5,044	-5,385	-5,056	-5,699	-5,100	-5,447
	Other transportation			-1,546	-1,855	-2,027	-2,056	-69	-183
	Travel			4,344	5,363	6,806	7,010	11,464	12,341
	Investment income			1,098	1,193	918	989	815	940
	Interest payments			-910	-812	-777	-887	-978	-964
	Other services			-4,436	-3,865	-3,756	-3,909	-3,328	-3,328
Private transfers (net)				2,961	3,260	4,626	5,000	5,100	5,907
Current account (excluding official transfers)				-17,686	-17,891	-15,624	-15,090	-8,175	-7,013
Official transfers				12,902	10,183	7,898	10,000	10,518	7,060
Current account (including official transfers)				-4,784	-7,708	-7,726	-5,090	2,343	47
Direct investment				167	333	360	100	170	125
Medium- and long-term borrowing				-4,406	439	-2,797	-2,115	-1,698	-2,796
	Gross borrowing			3,564	3,983	3,341	1,930	2,272	1,571
	Amortization			-7,970	-3,544	-6,138	-4,045	-3,970	-4,367
Trade-related credits				1,853	494	59	683	-742	137
Commercial banks				185	-684	-44	-1,087	-412	-427
		Foreign assets		689	-774	41	-1,079	-446	-1,593
		Foreign liabilities		-504	90	-85	-8	34	1,166
Short-term capital (including errors & omissions)				-1,757	1,692	7,355	1,835	-5,518	206
Capital account				-3,957	2,274	4,932	-584	-8,200	-2,755
Overall balance				-8,742	-5,433	-2,794	-5,674	-5,857	-2,709
Financing				8,742	5,433	2,794	5,674	5,857	2,709
	Central bank			-5,320	1,388	-3,598	1,661	1,440	-1,726
		Gross foreign assets of Central Bank		-6,259	1,307	-3,528	1,652	1,717	-1,714
		Net use of Fund credit		805	0	0	-108	-110	-199
		Others (net)		134	81	-70	117	-167	186
	Valuation change			5,649	0	0	0	0	0
	Change in arrears			322	3,239	2,958	1,793	4,417	4,435
	Exceptional financing			8,090	807	3,434	2,220	0	0
	Financing gap			0	0	0	0	0	0
Memorandum items:
		Gross foreign assets of the Central Bank		17,729	16,422	19,950	18,298	16,581	18,295
			In months of imports of goods and nonfactor services	5.8	5.1	6.5	6.6	5.7	6.1
	Nominal stock of debt in percent of GDP 1/			99.1	99.9	95.3	99.6	109.9	106.0
	Debt service in percent of exports of goods and nonfactor services			56.5	25.4	42.7	37.3	22.8	22.9

Sources: Central Bank of the Comoros; Ministry of Finance; and Fund staff estimates.

^{^1/}Including arrears.

Table 22.

Comoros: Volume and Value of Principal Exports, f.o.b.,1994-99

(Value in millions of Comorian francs; volume in metric tons; unit value in Comorian francs per kilogram)

Sources: General Directorate of Customs; and Fund staff estimates.

^{^1/}Index 1990-100; calculated by the Fund staff.

Table 22.

Comoros: Volume and Value of Principal Exports, f.o.b.,1994-99

(Value in millions of Comorian francs; volume in metric tons; unit value in Comorian francs per kilogram)

		1994	1995	1996	1997	1998	1999
Vanilla
	Value	2,767	2,320	1,035	1,119	1,058	1,788
	Volume	131	154	91	164	132	180
	Unit value	21,179	15,085	11,325	6,819	8,010	9,933
Clove buds
	Value	522	134	210	89	268	522
	Volume	2,749	481	824	394	1,037	394
	Unit value	190	278	255	227	258	1,326
Yiang-ylang
	Value	930	855	645	716	793	753
	Volume	45	43	36	42	42	32
	Unit value	20,704	19,696	17,663	16,884	18,691	23,888
Other products
	Value	272	927	546	568	597	606
	Total value	4,491	4,236	2,436	2,360	2,716	3,669
Memorandum item:
	Export price index 1/	97.3	91.8	81.7	76.8	79.1	108.3

Sources: General Directorate of Customs; and Fund staff estimates.

^{^1/}Index 1990-100; calculated by the Fund staff.

Table 22.

Comoros: Volume and Value of Principal Exports, f.o.b.,1994-99

(Value in millions of Comorian francs; volume in metric tons; unit value in Comorian francs per kilogram)

		1994	1995	1996	1997	1998	1999
Vanilla
	Value	2,767	2,320	1,035	1,119	1,058	1,788
	Volume	131	154	91	164	132	180
	Unit value	21,179	15,085	11,325	6,819	8,010	9,933
Clove buds
	Value	522	134	210	89	268	522
	Volume	2,749	481	824	394	1,037	394
	Unit value	190	278	255	227	258	1,326
Yiang-ylang
	Value	930	855	645	716	793	753
	Volume	45	43	36	42	42	32
	Unit value	20,704	19,696	17,663	16,884	18,691	23,888
Other products
	Value	272	927	546	568	597	606
	Total value	4,491	4,236	2,436	2,360	2,716	3,669
Memorandum item:
	Export price index 1/	97.3	91.8	81.7	76.8	79.1	108.3

Sources: General Directorate of Customs; and Fund staff estimates.

^{^1/}Index 1990-100; calculated by the Fund staff.

Table 23.

Comoros: Volume and Value of Principal Imports, c.i.f.,1994-99

(Value in millions of Comorian francs; volume in metric tons; unit value in Comorian francs per kilogram)

Sources: General Directorate of Customs; and Fund staff estimates.

^{^1/}Balance of payments basis, including adjustments for coverage, valuation and recording errors.

^{^2/}Index 1990-100; calculated by the Fund staff.

Table 23.

Comoros: Volume and Value of Principal Imports, c.i.f.,1994-99

(Value in millions of Comorian francs; volume in metric tons; unit value in Comorian francs per kilogram)

		1994	1995	1996	1997	1998	1999
Rice
	Value	2,614	5,252	3,318	3,947	4,096	3,365
	Volume	28,518	41,650	30,538	34,323	34,157	33,690
	Unit value	92	126	109	115	120	100
Meat
	Value	1,247	1,617	1,456	2,469	2,350	2,512
	Volume	2,216	2,574	2,373	3,205	3,182	3,134
	Unit value	563	628	613	770	739	802
Petroleum products
	Value	2,546	2,897	1,509	1,384	962	1,333
	Volume	23,816	33,962	15,663	16,380	16,261	15,910
	Unit value	107	85	96	84	59	84
Cement
	Value	1,676	1,652	880	843	813	822
	Volume	39,212	43,315	24,088	24,088	23,913	23,483
	Unit value	43	38	37	35	34	35
Iron and steel
	Value	778	804	858	668	709	645
	Volume	3,330	3,461	3,299	3,168	3,145	3,088
	Unit value	234	232	260	211	225	209
Other products
	Value 1/	14,827	13,189	15,828	17,464	17,040	18,286
	Total value 1/	23,689	25,411	23,849	26,776	23,831	25,451
Memorandum item:
	Import price index 2/	151.8	153.8	149.3	159.6	171.0	175.3

Sources: General Directorate of Customs; and Fund staff estimates.

^{^1/}Balance of payments basis, including adjustments for coverage, valuation and recording errors.

^{^2/}Index 1990-100; calculated by the Fund staff.

Table 23.

Comoros: Volume and Value of Principal Imports, c.i.f.,1994-99

(Value in millions of Comorian francs; volume in metric tons; unit value in Comorian francs per kilogram)

		1994	1995	1996	1997	1998	1999
Rice
	Value	2,614	5,252	3,318	3,947	4,096	3,365
	Volume	28,518	41,650	30,538	34,323	34,157	33,690
	Unit value	92	126	109	115	120	100
Meat
	Value	1,247	1,617	1,456	2,469	2,350	2,512
	Volume	2,216	2,574	2,373	3,205	3,182	3,134
	Unit value	563	628	613	770	739	802
Petroleum products
	Value	2,546	2,897	1,509	1,384	962	1,333
	Volume	23,816	33,962	15,663	16,380	16,261	15,910
	Unit value	107	85	96	84	59	84
Cement
	Value	1,676	1,652	880	843	813	822
	Volume	39,212	43,315	24,088	24,088	23,913	23,483
	Unit value	43	38	37	35	34	35
Iron and steel
	Value	778	804	858	668	709	645
	Volume	3,330	3,461	3,299	3,168	3,145	3,088
	Unit value	234	232	260	211	225	209
Other products
	Value 1/	14,827	13,189	15,828	17,464	17,040	18,286
	Total value 1/	23,689	25,411	23,849	26,776	23,831	25,451
Memorandum item:
	Import price index 2/	151.8	153.8	149.3	159.6	171.0	175.3

Sources: General Directorate of Customs; and Fund staff estimates.

^{^1/}Balance of payments basis, including adjustments for coverage, valuation and recording errors.

^{^2/}Index 1990-100; calculated by the Fund staff.

Table 24.

Comoros: External Debt Outstanding by Creditors,1994-99

(In millions of U.S. dollars)

Source: Ministry of Finance.

^{^1/}Disbursed, outstanding, and not yet due.

Table 24.

Comoros: External Debt Outstanding by Creditors,1994-99

(In millions of U.S. dollars)

			1994	1995	1996	1997	1998	1999
Multilateral loans			131.8	149.3	135.7	131.5	134.2	123.9
	International Development Association		54.7	59.7	61.1	64.1	68.6	65.6
	International Fund for Agricultural Development		3.1	3.4	2.9	2.7	2.6	2.4
	African Development Fund		41.5	46.4	40.3	37.1	35.5	33.0
	African Development Bank		10.8	12.6	9.6	7.4	6.8	5.9
	Arab Bank for Economic Development in Africa		3.6	5.0	3.5	3.0	3.1	1.9
	International Monetary Fund		3.3	3.3	3.2	2.9	2.7	2.6
	Islamic Development Bank		8.4	9.8	8.8	8.5	8.6	8.2
	Organization of Petroleum Exporting Countries Special Fund		2.2	2.9	2.1	1.9	2.0	1.5
	Arab Fund for Economic and Social Development		4.2	6.2	4.3	3.9	4.2	2.8
Bilateral loans			35.1	39.7	31.0	28.0	27.1	21.1
	Abu Dhabi		0.7	0.8	0.7	0.6	0.7	0.6
	Belgium		0.0	0.0	0.0	0.0	0.0	0.0
	China		0.8	0.8	0.4	0.5	0.7	0.5
	France		0.0	0.0	0.0	0.0	0.0	0.0
	Kuwait		22.0	24.9	20.2	18.6	18.2	14.9
	Saudi Arabia		11.6	13.2	9.7	8.2	7.5	5.0
		Total 1/	167.0	189.0	166.7	159.5	161.3	145.0

Source: Ministry of Finance.

^{^1/}Disbursed, outstanding, and not yet due.

Table 24.

Comoros: External Debt Outstanding by Creditors,1994-99

(In millions of U.S. dollars)

			1994	1995	1996	1997	1998	1999
Multilateral loans			131.8	149.3	135.7	131.5	134.2	123.9
	International Development Association		54.7	59.7	61.1	64.1	68.6	65.6
	International Fund for Agricultural Development		3.1	3.4	2.9	2.7	2.6	2.4
	African Development Fund		41.5	46.4	40.3	37.1	35.5	33.0
	African Development Bank		10.8	12.6	9.6	7.4	6.8	5.9
	Arab Bank for Economic Development in Africa		3.6	5.0	3.5	3.0	3.1	1.9
	International Monetary Fund		3.3	3.3	3.2	2.9	2.7	2.6
	Islamic Development Bank		8.4	9.8	8.8	8.5	8.6	8.2
	Organization of Petroleum Exporting Countries Special Fund		2.2	2.9	2.1	1.9	2.0	1.5
	Arab Fund for Economic and Social Development		4.2	6.2	4.3	3.9	4.2	2.8
Bilateral loans			35.1	39.7	31.0	28.0	27.1	21.1
	Abu Dhabi		0.7	0.8	0.7	0.6	0.7	0.6
	Belgium		0.0	0.0	0.0	0.0	0.0	0.0
	China		0.8	0.8	0.4	0.5	0.7	0.5
	France		0.0	0.0	0.0	0.0	0.0	0.0
	Kuwait		22.0	24.9	20.2	18.6	18.2	14.9
	Saudi Arabia		11.6	13.2	9.7	8.2	7.5	5.0
		Total 1/	167.0	189.0	166.7	159.5	161.3	145.0

Source: Ministry of Finance.

^{^1/}Disbursed, outstanding, and not yet due.

Table 25.

Comoros: External Debt Payment Arrears by Creditors,1994-99

(In millions of U.S. dollars)

Source: Ministère des Finances.

Table 25.

Comoros: External Debt Payment Arrears by Creditors,1994-99

(In millions of U.S. dollars)

			1994	1995	1996	1997	1998	1999
Multilateral creditors			24.3	25.7	27.1	30.0	34.6	35.9
	International Development Association		0.2	0.2	0.2	0.2	0.1	0.7
	International Fund for Agricultural Development		0.0	0.0	0.0	0.0	0.0	0.1
	African Development Fund		1.2	1.6	2.0	2.4	2.9	3.2
	African Development Bank		5.3	5.3	6.4	7.4	8.6	9.5
	Arab Bank for Economic Development in Africa		7.1	7.8	7.7	8.5	10.1	10.0
	International Monetary Fund		0.0	0.0	0.0	0.0	0.0	0.0
	Islamic Development Bank		0.4	0.4	0.8	0.7	0.6	0.6
	OPEC Special Fund		3.2	2.9	2.8	3.1	3.4	3.2
	Arab Fund for Economic and Social Development		7.0	7.6	7.3	7.8	9.0	8.7
Bilateral creditors			3.3	3.6	6.6	9.7	14.1	16.2
	Abu Dhabi		0.0	0.0	0.0	0.0	0.0	0.0
	Belgium		0.0	0.0	0.0	0.0	0.0	0.0
	China		1.0	1.1	1.2	1.2	1.3	1.2
	France		0.0	0.0	0.0	0.0	0.0	0.0
	Kuwait		1.0	1.0	2.2	3.6	5.3	6.3
	Saudi Arabia		1.3	1.5	3.2	4.9	7.5	8.7
		Total 1/	27.5	29.3	33.6	39.7	48.7	52.0
Of which:
	Principal		20.8	22.1	25.6	30.4	37.6	40.0
	Interest		6.7	7.2	8.1	9.3	11.1	12.0

Source: Ministère des Finances.

Table 25.

Comoros: External Debt Payment Arrears by Creditors,1994-99

(In millions of U.S. dollars)

			1994	1995	1996	1997	1998	1999
Multilateral creditors			24.3	25.7	27.1	30.0	34.6	35.9
	International Development Association		0.2	0.2	0.2	0.2	0.1	0.7
	International Fund for Agricultural Development		0.0	0.0	0.0	0.0	0.0	0.1
	African Development Fund		1.2	1.6	2.0	2.4	2.9	3.2
	African Development Bank		5.3	5.3	6.4	7.4	8.6	9.5
	Arab Bank for Economic Development in Africa		7.1	7.8	7.7	8.5	10.1	10.0
	International Monetary Fund		0.0	0.0	0.0	0.0	0.0	0.0
	Islamic Development Bank		0.4	0.4	0.8	0.7	0.6	0.6
	OPEC Special Fund		3.2	2.9	2.8	3.1	3.4	3.2
	Arab Fund for Economic and Social Development		7.0	7.6	7.3	7.8	9.0	8.7
Bilateral creditors			3.3	3.6	6.6	9.7	14.1	16.2
	Abu Dhabi		0.0	0.0	0.0	0.0	0.0	0.0
	Belgium		0.0	0.0	0.0	0.0	0.0	0.0
	China		1.0	1.1	1.2	1.2	1.3	1.2
	France		0.0	0.0	0.0	0.0	0.0	0.0
	Kuwait		1.0	1.0	2.2	3.6	5.3	6.3
	Saudi Arabia		1.3	1.5	3.2	4.9	7.5	8.7
		Total 1/	27.5	29.3	33.6	39.7	48.7	52.0
Of which:
	Principal		20.8	22.1	25.6	30.4	37.6	40.0
	Interest		6.7	7.2	8.1	9.3	11.1	12.0

Source: Ministère des Finances.

Table 26.

Comoros: External Debt-Service Payments by Creditors,1994-99

(In millions of U.S. dollars)

Source: Ministry of Finance.

^{^1/}Includes debt rescheduled in 1996.

^{^2/}Includes debt cancellations in 1994.

Table 26.

Comoros: External Debt-Service Payments by Creditors,1994-99

(In millions of U.S. dollars)

		1994	1995	1996	1997	1998	1999
Principal due		19.14	9.37	9.51	9.51	8.61	9.72
	of which: paid	0.82	0.45	0.96	0.89	0.56	1.18
Multilateral creditors		4.60	4.47	4.55	4.21	3.96	5.01
	International Development Association	0.34	0.38	0.39	0.47	0.44	0.58
	International Fund for Agricultural Development	0.03	0.06	0.07	0.06	0.06	0.06
	African Development Fund	0.31	0.32	0.29	0.26	0.28	0.47
	African Development Bank	1.38	1.12	1.16	0.69	0.66	1.05
	Arab Bank for Economic Development in Africa	0.59	0.63	0.68	0.72	0.68	0.78
	International Monetary Fund	0.00	0.00	0.00	0.25	0.24	0.43
	Islamic Development Bank 1/	0.88	0.97	0.93	0.76	0.72	0.85
	Organization of Petroleum Exporting Countries Special Fund	0.39	0.30	0.31	0.29	0.22	0.06
	Arab Fund for Economic and Social Development	0.67	0.69	0.72	0.72	0.65	0.72
Bilateral creditors		14.54	4.90	4.96	5.30	4.65	4.72
	Abu Dhabi	0.07	0.07	0.08	0.08	0.00	0.00
	Belgium 2/	2.42	0.00	0.00	0.00	0.00	0.00
	China	0.23	0.24	0.02	0.03	0.03	0.03
	France 2/	8.10	0.00	0.00	0.00	0.00	0.00
	Kuwait	0.88	1.19	1.37	1.48	1.46	1.75
	Saudi Arabia	2.84	3.41	3.51	3.71	3.17	2.93
Interest due		2.20	2.45	2.46	2.26	2.13	2.12
	of which: paid	0.31	0.47	0.52	0.55	0.16	0.97
Multilateral creditors		1.81	2.11	2.15	1.98	1.91	1.92
	International Development Association	0.35	0.46	0.57	0.51	0.51	0.56
	International Fund for Agricultural Development	0.02	0.03	0.04	0.04	0.05	0.06
	African Development Fund	0.29	0.35	0.33	0.29	0.28	0.29
	African Development Bank	0.73	0.77	0.73	0.68	0.65	0.52
	Arab Bank for Economic Development in Africa	0.27	0.35	0.37	0.37	0.33	0.37
	International Monetary Fund	0.01	0.02	0.02	0.01	0.01	0.01
	Islamic Development Bank	0.05	0.05	0.04	0.03	0.03	0.03
	OPEC Special Fund	0.03	0.03	0.02	0.02	0.02	0.06
	Arab Fund for Economic and Social Development	0.05	0.04	0.04	0.03	0.02	0.02
Bilateral creditors		0.39	0.34	0.32	0.28	0.23	0.21
	Abu Dhabi	0.01	0.00	0.00	0.00	0.00	0.00
	Belgium	0.00	0.00	0.00	0.00	0.00	0.00
	China	0.01	0.01	0.01	0.01	0.01	0.01
	France	0.00	0.00	0.00	0.00	0.00	0.00
	Kuwait	0.20	0.18	0.17	0.17	0.15	0.15
	Saudi Arabia	0.18	0.15	0.13	0.11	0.07	0.05
Total debt service due		21.34	11.82	11.98	11.78	10.75	11.84
	of which: paid	1.14	0.92	1.48	1.44	0.72	2.15
Multilateral creditors		6.41	6.57	6.70	6.19	5.87	6.92
	International Development Association	0.69	0.84	0.95	0.98	0.95	1.15
	International Fund for Agricultural Development	0.05	0.10	0.10	0.10	0.11	0.13
	African Development Fund	0.60	0.67	0.62	0.55	0.56	0.76
	African Development Bank	2.12	1.89	1.89	1.37	1.32	1.57
	Arab Bank for Economic Development in Africa	0.85	0.98	1.05	1.09	1.02	1.15
	International Monetary Fund	0.01	0.02	0.02	0.26	0.26	0.44
	Islamic Development Bank 1/	0.93	1.02	0.98	0.79	0.75	0.87
	OPEC Special Fund	0.42	0.33	0.34	0.31	0.24	0.13
	Arab Fund for Economic and Social Development	0.72	0.73	0.75	0.75	0.67	0.73
Bilateral creditors		14.93	5.25	5.28	5.59	4.88	4.92
	Abu Dhabi	0.08	0.07	0.08	0.08	0.00	0.00
	Belgium	2.42	0.00	0.00	0.00	0.00	0.00
	China	0.24	0.24	0.03	0.04	0.04	0.04
	France	8.10	0.00	0.00	0.00	0.00	0.00
	Kuwait	1.09	1.37	1.54	1.65	1.60	1.90
	Saudi Arabia	3.02	3.56	3.63	3.82	3.24	2.98

Source: Ministry of Finance.

^{^1/}Includes debt rescheduled in 1996.

^{^2/}Includes debt cancellations in 1994.

Table 26.

Comoros: External Debt-Service Payments by Creditors,1994-99

(In millions of U.S. dollars)

		1994	1995	1996	1997	1998	1999
Principal due		19.14	9.37	9.51	9.51	8.61	9.72
	of which: paid	0.82	0.45	0.96	0.89	0.56	1.18
Multilateral creditors		4.60	4.47	4.55	4.21	3.96	5.01
	International Development Association	0.34	0.38	0.39	0.47	0.44	0.58
	International Fund for Agricultural Development	0.03	0.06	0.07	0.06	0.06	0.06
	African Development Fund	0.31	0.32	0.29	0.26	0.28	0.47
	African Development Bank	1.38	1.12	1.16	0.69	0.66	1.05
	Arab Bank for Economic Development in Africa	0.59	0.63	0.68	0.72	0.68	0.78
	International Monetary Fund	0.00	0.00	0.00	0.25	0.24	0.43
	Islamic Development Bank 1/	0.88	0.97	0.93	0.76	0.72	0.85
	Organization of Petroleum Exporting Countries Special Fund	0.39	0.30	0.31	0.29	0.22	0.06
	Arab Fund for Economic and Social Development	0.67	0.69	0.72	0.72	0.65	0.72
Bilateral creditors		14.54	4.90	4.96	5.30	4.65	4.72
	Abu Dhabi	0.07	0.07	0.08	0.08	0.00	0.00
	Belgium 2/	2.42	0.00	0.00	0.00	0.00	0.00
	China	0.23	0.24	0.02	0.03	0.03	0.03
	France 2/	8.10	0.00	0.00	0.00	0.00	0.00
	Kuwait	0.88	1.19	1.37	1.48	1.46	1.75
	Saudi Arabia	2.84	3.41	3.51	3.71	3.17	2.93
Interest due		2.20	2.45	2.46	2.26	2.13	2.12
	of which: paid	0.31	0.47	0.52	0.55	0.16	0.97
Multilateral creditors		1.81	2.11	2.15	1.98	1.91	1.92
	International Development Association	0.35	0.46	0.57	0.51	0.51	0.56
	International Fund for Agricultural Development	0.02	0.03	0.04	0.04	0.05	0.06
	African Development Fund	0.29	0.35	0.33	0.29	0.28	0.29
	African Development Bank	0.73	0.77	0.73	0.68	0.65	0.52
	Arab Bank for Economic Development in Africa	0.27	0.35	0.37	0.37	0.33	0.37
	International Monetary Fund	0.01	0.02	0.02	0.01	0.01	0.01
	Islamic Development Bank	0.05	0.05	0.04	0.03	0.03	0.03
	OPEC Special Fund	0.03	0.03	0.02	0.02	0.02	0.06
	Arab Fund for Economic and Social Development	0.05	0.04	0.04	0.03	0.02	0.02
Bilateral creditors		0.39	0.34	0.32	0.28	0.23	0.21
	Abu Dhabi	0.01	0.00	0.00	0.00	0.00	0.00
	Belgium	0.00	0.00	0.00	0.00	0.00	0.00
	China	0.01	0.01	0.01	0.01	0.01	0.01
	France	0.00	0.00	0.00	0.00	0.00	0.00
	Kuwait	0.20	0.18	0.17	0.17	0.15	0.15
	Saudi Arabia	0.18	0.15	0.13	0.11	0.07	0.05
Total debt service due		21.34	11.82	11.98	11.78	10.75	11.84
	of which: paid	1.14	0.92	1.48	1.44	0.72	2.15
Multilateral creditors		6.41	6.57	6.70	6.19	5.87	6.92
	International Development Association	0.69	0.84	0.95	0.98	0.95	1.15
	International Fund for Agricultural Development	0.05	0.10	0.10	0.10	0.11	0.13
	African Development Fund	0.60	0.67	0.62	0.55	0.56	0.76
	African Development Bank	2.12	1.89	1.89	1.37	1.32	1.57
	Arab Bank for Economic Development in Africa	0.85	0.98	1.05	1.09	1.02	1.15
	International Monetary Fund	0.01	0.02	0.02	0.26	0.26	0.44
	Islamic Development Bank 1/	0.93	1.02	0.98	0.79	0.75	0.87
	OPEC Special Fund	0.42	0.33	0.34	0.31	0.24	0.13
	Arab Fund for Economic and Social Development	0.72	0.73	0.75	0.75	0.67	0.73
Bilateral creditors		14.93	5.25	5.28	5.59	4.88	4.92
	Abu Dhabi	0.08	0.07	0.08	0.08	0.00	0.00
	Belgium	2.42	0.00	0.00	0.00	0.00	0.00
	China	0.24	0.24	0.03	0.04	0.04	0.04
	France	8.10	0.00	0.00	0.00	0.00	0.00
	Kuwait	1.09	1.37	1.54	1.65	1.60	1.90
	Saudi Arabia	3.02	3.56	3.63	3.82	3.24	2.98

Source: Ministry of Finance.

^{^1/}Includes debt rescheduled in 1996.

^{^2/}Includes debt cancellations in 1994.

Table 27.

Comoros: Summary of Tax System,1999

Source: Ministry of Finance, Budget, and Planning.

Table 27.

Comoros: Summary of Tax System,1999

	Tax	Nature of Tax	Exemptions and Deductions	Rates
1. Taxes on net income and profits
	1.1 Taxes on miscellaneous profits (impôts sur les bénéfices divers -IBD)	Tax levied on all individuals and corporations involved in commercial activities or in other lucrative activities.	Agricultural cooperatives and credit unions, government agencies and offices, managers of low-cost housing, and enterprises eligible under the provisions of the Investment Code.	35 percent for individuals and companies with turnover <500,000,000Fcfa 50 percent with turnover >500,000,000 Fcfa
		Advance tax payment levied by customs on imports.	International organizations and diplomats. Non-commercial imports.	1 percent of import value, c.i.f., and 5 percent for occasional imports.
	1.2 Taxes on capital income (IRCM)	Tax on distributed dividends and interest paid.	Interest on loans contracted or granted by the Development Bank, government low-cost housing offices, loan companies, agricultural credit unions, and the Caisse Française de Développement.	15 percent
	1.3 General income tax (IGR)	General tax on income of any type, payable by all individuals habitually resident in the Comoros or not resident but receiving income in the Comoros.		CF 150,001- 500,000 5 percent CF 500,001-1,000,000 10 percent CF 1,000,001-1,500,000 15 percent CF 1,500,001-2,000,000 20 percent CF 2,500,001-3,500,000 25 percent Over CF 3,500,000: 30 percent
	1.4 Single Professional Tax (TPU)	Tax levied on all individuals or corporations involved in commercial activities or any other lucrative operations and whose turnover is less than CF 20,000,000.	In the event that the provisions of the Investment Code are approved.	10 percent of rental value of premises.
2. Property tax
	2.1 Tax on developed or rented property (IPBL)	Annual tax on dwellings and commercial and industrial premises.	New properties used as dwellings for the first two years, and properties belonging to the government or to communes.	Dwellings: 20 percent of rental value; commercial and industrial premises: 30 percent.
	2.2 Tax on registered property	Tax levied on sold properties	No exemption	10 percent of sales price. 5 percent of acquisition price.
3. Taxes on goods and services
	3.1 Business license	Tax on any individual or corporation involved in trade, industry, or a liberal profession.	Public or private sector employees, for their wage-earning activity only, manual workers, artists, farmers, agricultural cooperatives, agricultural credit unions, insurance companies, midwives, and the Caisse Française de Développement.	CF 5,000-300,000 fixed tax, depending on the activity; 10 percent proportional tax, calculated on the rental value of the premises and the value of all means of production.
	3.2 General sales tax (TGV)	Sales tax on imports (base: c.i.f. plus single import tax) and domestic production and services (base: turnover).	Trading and medical services are exempt. Enterprises with turnover of CF 20 million or less are exempt.	Single rate: 10 percent; electricity and telephone: 5 percent; and water: 3 percent
			Exports and bunkering/petroleum products as well as journals and newspapers are example.
	3.3 Visa fee	Annual tax payable by all foreigners over 18 years of age residing in the Comoros.		1- 5-day tourist visa CF 3,000 1-15-day tourist visa CF 10,000 1-45-day tourist visa CF 15,000 Long-term tourist visa CF 30,000 Residency card CF 60,000 One-time exit visa CF 500 Exit-entry visa CF 2,000 Multiple-exit visa CF 20,000
	3.4 Motor vehicle tax	Annual tax on vehicles in use.	Vehicles owned by the central government or local governments, and foreign vehicles if kept in the Comoros less than three months or belonging to diplomats.	CF 9,000-22,500, depending on the age and power of the vehicle.
	3.5 Special tax on diesel engine vehicles	Annual tax on vehicles in use.	Vehicles owned by the central government or local governments, and vehicles used in agricultural activities.	CF 25,000 per unit of horsepower.
4. Taxes on international trade
	4.1 Single import tax (TUI)	All imported goods.	Goods imported by the central government under grants, and imports by diplomatic missions.	Rates of 20 percent, 30 percent, or 40 percent of import value, c.i.f.
	4.2 Single specific tax on imports (TUS)	Selected imports.	Goods imported by the central government under grants, and imports by diplomatic missions.	CF 10-150 per kilo, CF 8-200 per liter.
	4.3 Special fiscal duty (TSVF)	Levied on alcoholic beverages and tobacco products.		Fot alcoholic beverages and tobacco products, 180 percent.
	4.4 Statistical levy (Rl)	All imported goods.	Goods imported by the central government under grants, and imports by diplomatic missions.	1 percent of customs receipts on taxable imports; 3 percent of c.i.f. value of exempt imports.
	4.5 Single tax on petroleum products (TPP)		Reduced rate applied to diplomatic missions, ships, and aircraft.	Gasoline (normal rate) CF 215/1 Gasoline (reduced rate) CF 169/1 Diesel oil (normal rate) CF 80/1 Diesel oil (reduced rate) CF 55/1 Aircraft fuel (normal rate) CF 10/1 Aircraft fuel (normal rate) CF 8/1 Breakdown: budget, 90 percent; Road Fund, 10 percent
	4.6 Single tax on rice			CF 100/kg for high-grade rice; CF 60/kg for ordinary rice.
	4.7 Withholding tax (ASDI)	Levied on all commercial imports.	Immediately deductible from payments of domestic taxes (IBD and TPV).	1 percent of c.i.f value.
	4.8 Export duty			Ylang-ylang and other perfume oils: 11.6 percent; other products: 0 percent
5. Additional centime		Levied on behalf of the Chamber of Commerce (UCCIA).		1 percent of export value, f.o.b., less export duties.

Source: Ministry of Finance, Budget, and Planning.

Table 27.

Comoros: Summary of Tax System,1999

	Tax	Nature of Tax	Exemptions and Deductions	Rates
1. Taxes on net income and profits
	1.1 Taxes on miscellaneous profits (impôts sur les bénéfices divers -IBD)	Tax levied on all individuals and corporations involved in commercial activities or in other lucrative activities.	Agricultural cooperatives and credit unions, government agencies and offices, managers of low-cost housing, and enterprises eligible under the provisions of the Investment Code.	35 percent for individuals and companies with turnover <500,000,000Fcfa 50 percent with turnover >500,000,000 Fcfa
		Advance tax payment levied by customs on imports.	International organizations and diplomats. Non-commercial imports.	1 percent of import value, c.i.f., and 5 percent for occasional imports.
	1.2 Taxes on capital income (IRCM)	Tax on distributed dividends and interest paid.	Interest on loans contracted or granted by the Development Bank, government low-cost housing offices, loan companies, agricultural credit unions, and the Caisse Française de Développement.	15 percent
	1.3 General income tax (IGR)	General tax on income of any type, payable by all individuals habitually resident in the Comoros or not resident but receiving income in the Comoros.		CF 150,001- 500,000 5 percent CF 500,001-1,000,000 10 percent CF 1,000,001-1,500,000 15 percent CF 1,500,001-2,000,000 20 percent CF 2,500,001-3,500,000 25 percent Over CF 3,500,000: 30 percent
	1.4 Single Professional Tax (TPU)	Tax levied on all individuals or corporations involved in commercial activities or any other lucrative operations and whose turnover is less than CF 20,000,000.	In the event that the provisions of the Investment Code are approved.	10 percent of rental value of premises.
2. Property tax
	2.1 Tax on developed or rented property (IPBL)	Annual tax on dwellings and commercial and industrial premises.	New properties used as dwellings for the first two years, and properties belonging to the government or to communes.	Dwellings: 20 percent of rental value; commercial and industrial premises: 30 percent.
	2.2 Tax on registered property	Tax levied on sold properties	No exemption	10 percent of sales price. 5 percent of acquisition price.
3. Taxes on goods and services
	3.1 Business license	Tax on any individual or corporation involved in trade, industry, or a liberal profession.	Public or private sector employees, for their wage-earning activity only, manual workers, artists, farmers, agricultural cooperatives, agricultural credit unions, insurance companies, midwives, and the Caisse Française de Développement.	CF 5,000-300,000 fixed tax, depending on the activity; 10 percent proportional tax, calculated on the rental value of the premises and the value of all means of production.
	3.2 General sales tax (TGV)	Sales tax on imports (base: c.i.f. plus single import tax) and domestic production and services (base: turnover).	Trading and medical services are exempt. Enterprises with turnover of CF 20 million or less are exempt.	Single rate: 10 percent; electricity and telephone: 5 percent; and water: 3 percent
			Exports and bunkering/petroleum products as well as journals and newspapers are example.
	3.3 Visa fee	Annual tax payable by all foreigners over 18 years of age residing in the Comoros.		1- 5-day tourist visa CF 3,000 1-15-day tourist visa CF 10,000 1-45-day tourist visa CF 15,000 Long-term tourist visa CF 30,000 Residency card CF 60,000 One-time exit visa CF 500 Exit-entry visa CF 2,000 Multiple-exit visa CF 20,000
	3.4 Motor vehicle tax	Annual tax on vehicles in use.	Vehicles owned by the central government or local governments, and foreign vehicles if kept in the Comoros less than three months or belonging to diplomats.	CF 9,000-22,500, depending on the age and power of the vehicle.
	3.5 Special tax on diesel engine vehicles	Annual tax on vehicles in use.	Vehicles owned by the central government or local governments, and vehicles used in agricultural activities.	CF 25,000 per unit of horsepower.
4. Taxes on international trade
	4.1 Single import tax (TUI)	All imported goods.	Goods imported by the central government under grants, and imports by diplomatic missions.	Rates of 20 percent, 30 percent, or 40 percent of import value, c.i.f.
	4.2 Single specific tax on imports (TUS)	Selected imports.	Goods imported by the central government under grants, and imports by diplomatic missions.	CF 10-150 per kilo, CF 8-200 per liter.
	4.3 Special fiscal duty (TSVF)	Levied on alcoholic beverages and tobacco products.		Fot alcoholic beverages and tobacco products, 180 percent.
	4.4 Statistical levy (Rl)	All imported goods.	Goods imported by the central government under grants, and imports by diplomatic missions.	1 percent of customs receipts on taxable imports; 3 percent of c.i.f. value of exempt imports.
	4.5 Single tax on petroleum products (TPP)		Reduced rate applied to diplomatic missions, ships, and aircraft.	Gasoline (normal rate) CF 215/1 Gasoline (reduced rate) CF 169/1 Diesel oil (normal rate) CF 80/1 Diesel oil (reduced rate) CF 55/1 Aircraft fuel (normal rate) CF 10/1 Aircraft fuel (normal rate) CF 8/1 Breakdown: budget, 90 percent; Road Fund, 10 percent
	4.6 Single tax on rice			CF 100/kg for high-grade rice; CF 60/kg for ordinary rice.
	4.7 Withholding tax (ASDI)	Levied on all commercial imports.	Immediately deductible from payments of domestic taxes (IBD and TPV).	1 percent of c.i.f value.
	4.8 Export duty			Ylang-ylang and other perfume oils: 11.6 percent; other products: 0 percent
5. Additional centime		Levied on behalf of the Chamber of Commerce (UCCIA).		1 percent of export value, f.o.b., less export duties.

Source: Ministry of Finance, Budget, and Planning.

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Comoros: Statistical Annex

Author:

International Monetary Fund

Volume/Issue:: Volume 2000: Issue 108

Publisher:: International Monetary Fund

ISBN:: 9781451809022

ISSN:: 1934-7685

Pages:: 31

DOI:: https://doi.org/10.5089/9781451809022.002

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Table 27.

Comoros: Summary of Tax System,1999

	Tax	Nature of Tax	Exemptions and Deductions	Rates
1. Taxes on net income and profits
	1.1 Taxes on miscellaneous profits (impôts sur les bénéfices divers -IBD)	Tax levied on all individuals and corporations involved in commercial activities or in other lucrative activities.	Agricultural cooperatives and credit unions, government agencies and offices, managers of low-cost housing, and enterprises eligible under the provisions of the Investment Code.	35 percent for individuals and companies with turnover <500,000,000Fcfa 50 percent with turnover >500,000,000 Fcfa
		Advance tax payment levied by customs on imports.	International organizations and diplomats. Non-commercial imports.	1 percent of import value, c.i.f., and 5 percent for occasional imports.
	1.2 Taxes on capital income (IRCM)	Tax on distributed dividends and interest paid.	Interest on loans contracted or granted by the Development Bank, government low-cost housing offices, loan companies, agricultural credit unions, and the Caisse Française de Développement.	15 percent
	1.3 General income tax (IGR)	General tax on income of any type, payable by all individuals habitually resident in the Comoros or not resident but receiving income in the Comoros.		CF 150,001- 500,000 5 percent CF 500,001-1,000,000 10 percent CF 1,000,001-1,500,000 15 percent CF 1,500,001-2,000,000 20 percent CF 2,500,001-3,500,000 25 percent Over CF 3,500,000: 30 percent
	1.4 Single Professional Tax (TPU)	Tax levied on all individuals or corporations involved in commercial activities or any other lucrative operations and whose turnover is less than CF 20,000,000.	In the event that the provisions of the Investment Code are approved.	10 percent of rental value of premises.
2. Property tax
	2.1 Tax on developed or rented property (IPBL)	Annual tax on dwellings and commercial and industrial premises.	New properties used as dwellings for the first two years, and properties belonging to the government or to communes.	Dwellings: 20 percent of rental value; commercial and industrial premises: 30 percent.
	2.2 Tax on registered property	Tax levied on sold properties	No exemption	10 percent of sales price. 5 percent of acquisition price.
3. Taxes on goods and services
	3.1 Business license	Tax on any individual or corporation involved in trade, industry, or a liberal profession.	Public or private sector employees, for their wage-earning activity only, manual workers, artists, farmers, agricultural cooperatives, agricultural credit unions, insurance companies, midwives, and the Caisse Française de Développement.	CF 5,000-300,000 fixed tax, depending on the activity; 10 percent proportional tax, calculated on the rental value of the premises and the value of all means of production.
	3.2 General sales tax (TGV)	Sales tax on imports (base: c.i.f. plus single import tax) and domestic production and services (base: turnover).	Trading and medical services are exempt. Enterprises with turnover of CF 20 million or less are exempt.	Single rate: 10 percent; electricity and telephone: 5 percent; and water: 3 percent
			Exports and bunkering/petroleum products as well as journals and newspapers are example.
	3.3 Visa fee	Annual tax payable by all foreigners over 18 years of age residing in the Comoros.		1- 5-day tourist visa CF 3,000 1-15-day tourist visa CF 10,000 1-45-day tourist visa CF 15,000 Long-term tourist visa CF 30,000 Residency card CF 60,000 One-time exit visa CF 500 Exit-entry visa CF 2,000 Multiple-exit visa CF 20,000
	3.4 Motor vehicle tax	Annual tax on vehicles in use.	Vehicles owned by the central government or local governments, and foreign vehicles if kept in the Comoros less than three months or belonging to diplomats.	CF 9,000-22,500, depending on the age and power of the vehicle.
	3.5 Special tax on diesel engine vehicles	Annual tax on vehicles in use.	Vehicles owned by the central government or local governments, and vehicles used in agricultural activities.	CF 25,000 per unit of horsepower.
4. Taxes on international trade
	4.1 Single import tax (TUI)	All imported goods.	Goods imported by the central government under grants, and imports by diplomatic missions.	Rates of 20 percent, 30 percent, or 40 percent of import value, c.i.f.
	4.2 Single specific tax on imports (TUS)	Selected imports.	Goods imported by the central government under grants, and imports by diplomatic missions.	CF 10-150 per kilo, CF 8-200 per liter.
	4.3 Special fiscal duty (TSVF)	Levied on alcoholic beverages and tobacco products.		Fot alcoholic beverages and tobacco products, 180 percent.
	4.4 Statistical levy (Rl)	All imported goods.	Goods imported by the central government under grants, and imports by diplomatic missions.	1 percent of customs receipts on taxable imports; 3 percent of c.i.f. value of exempt imports.
	4.5 Single tax on petroleum products (TPP)		Reduced rate applied to diplomatic missions, ships, and aircraft.	Gasoline (normal rate) CF 215/1 Gasoline (reduced rate) CF 169/1 Diesel oil (normal rate) CF 80/1 Diesel oil (reduced rate) CF 55/1 Aircraft fuel (normal rate) CF 10/1 Aircraft fuel (normal rate) CF 8/1 Breakdown: budget, 90 percent; Road Fund, 10 percent
	4.6 Single tax on rice			CF 100/kg for high-grade rice; CF 60/kg for ordinary rice.
	4.7 Withholding tax (ASDI)	Levied on all commercial imports.	Immediately deductible from payments of domestic taxes (IBD and TPV).	1 percent of c.i.f value.
	4.8 Export duty			Ylang-ylang and other perfume oils: 11.6 percent; other products: 0 percent
5. Additional centime		Levied on behalf of the Chamber of Commerce (UCCIA).		1 percent of export value, f.o.b., less export duties.

Source: Ministry of Finance, Budget, and Planning.

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