Chad: Second Review Under the Extended Credit Facility Arrangement, and Requests for Waivers of Nonobservance of Performance Criteria and for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Chad

IMF Staff Country Reports, December 21, 2015

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Canonical URL: Chad: Second Review Under the Extended Credit Facility Arrangement, and Requests for Waivers of Nonobservance of Performance Criteria and for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Chad

Discusses Chad’s Second Review Under the Extended Credit Facility (ECF) Arrangement, and Requests for Waivers of Nonobservance of Performance Criteria (PCs) and for Modification of PCs.
Despite the weaker economy, program performance under the ECF was broadly satisfactory in the first half of 2015.
IMF staff supports:
- completion of the second review under the ECF arrangement;
- waivers of nonobservance for the PCs on contracting of nonconcessional external debt, and nonaccumulation of domestic payment arrears;
- modification of PCs.

Four of the six performance criteria (PCs) were met in the first half of 2015.
Progress on the structural reform agenda was in line with program objectives.
Overall assessment: broadly satisfactory performance under the ECF-supported program despite weaker economic conditions.

Support completion of the second review under the ECF arrangement.
Support waivers of nonobservance for:
- the PC on contracting of nonconcessional external debt;
- the PC on nonaccumulation of domestic payment arrears.
Support modification of performance criteria (PCs) as requested.