Chad: Request for a Three-Year Arrangement under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Chad
IMF Staff Country Reports, December 15, 2021
Source details
- Canonical URL
- Chad: Request for a Three-Year Arrangement under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Chad
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Bibliographic details
- Authors: Edward R Gemayel
- Published: December 15, 2021
- Series: IMF Staff Country Reports
Key findings and economic context
- The COVID-19 pandemic, the volatility in oil prices, heightened insecurity, and a looming food crisis due to climate change have severely stressed an already vulnerable Chadian economy.
- Two Rapid Credit Facility (RCF) disbursements in April and July 2020 allowed Chad to meet its immediate financing and urgent balance of payment needs in the early stages of the pandemic.
- The authorities have requested Fund assistance under the Extended Credit Facility (ECF) to support post-COVID recovery and to implement a plan to reduce debt vulnerabilities through a combination of a debt workout and a multi-year fiscal consolidation program.
Financing actions and policy program request
- Requested instrument: Three-year arrangement under the ECF.
- Program objectives described in the source:
- Support post-COVID recovery.
- Reduce debt vulnerabilities via a debt workout.
- Undertake a multi-year fiscal consolidation program.
Near-term risks and fiscal pressures
- Political and security shock: Death of the president following a resurgence of fighting with rebel groups in April increased instability.
- Delayed donor support has contributed to an extremely tight treasury situation, threatening social stability.
Publication and document identifiers
- Author: Edward R Gemayel
- Date: December 15, 2021
- Pages: 113
- Country Report No.: 2021/267
- Stock No.: 1TCDEA2021001
- ISBN: 9781557759542
- ISSN: 1934-7685
IMF staff report and press release overview (Chad: Request for a Three-Year Arrangement under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Chad).
Content in this bundle
- 1tcdea2021001