Cover IMF Staff Country Reports
Chad: Third Review Under the Extended Credit Facility Arrangement, Request for Waiver of Nonobservance of Performance Criterion and Financing Assurances Review-Press Release; Staff Report and Statement by the Executive Director for Chad
Author:
International Monetary Fund. African Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2019: Issue 025
Language:
English
Publication Date:
24 Jan 2019
DOI:
https://doi.org/10.5089/9781484396087.002
ISBN:
9781484396087
ISSN:
1934-7685
Pages:
90
Keywords:
ISCR; CR; Chadian authorities; authority; July arrears payment; Executive Board discussion; October payment; nonobservance of the performance criterion; Arrears; Oil; gas and mining taxes; Fiscal stance; Africa
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The current ECF arrangement (access of 160 percent of quota or SDR 224.32 million) was approved on June 30, 2017 in the context of a very difficult and deteriorating social, economic, and financial situation. The crisis was precipitated by the oil price and security shocks that began in 2014, and the heavy burden of external commercial debt with Glencore. The restructuring of this debt in June 2018 paved the way for the completion of the second review in July 2018. Chad’s stability is key for the regional security situation given its regional peace-keeping efforts.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2019: Issue 025