Union of the Comoros: 2006 Article IV Consultation and Fourth Staff Review and Extension of the Staff-Monitored Program: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Union of the Comoros

October 30, 2006

Summary

Comoros faces significant economic and political challenges. The fiscal priorities are to restore revenues and curtail spending so that domestic arrears can be reduced and the program brought back on track. Clearing external arrears is a key hurdle to debt sustainability. Improvements to the investment climate are critical for attracting foreign direct investment. Financial sector development is needed to support private sector growth and economic diversification. If implemented successfully, the government’s policies could be the basis for a Poverty Reduction and Growth Facility arrangement.

Subject: Arrears, Balance of payments statistics, Debt service, Economic and financial statistics, External debt, Government finance statistics, Imports

Keywords: Arrears, Balance of payments statistics, Comorian authorities, Comoros franc, CR, Debt service, government, Government finance statistics, ISCR, island government, Sub-Saharan Africa, terms of trade shock, Union government

Pages:
67
Volume:
2006
DOI:
https://doi.org/10.5089/9781451809176.002
Issue:
383
Series:
Country Report No. 2006/383
Stock No:
1COMEA2006005
ISBN:
9781451809176
ISSN:
1934-7685

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