{
  "title": "Chad: 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Chad",
  "publication": "IMF Staff Country Reports, February 20, 2009",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/chad-2008-article-iv-consultation-staff-report-staff-supplement-public-information-notice-on-22729",
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  "summary": "The staff report for Chad’s 2008 Article IV Consultation presents economic developments and policies. The global economic crisis has affected the budget and reserves through lower oil prices.",
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    {
      "heading": "Summary",
      "content": "- The staff report presents economic developments and policies for Chad’s 2008 Article IV Consultation.\n- The global economic crisis has affected Chad’s budget and reserves through lower oil prices.\n- Chad’s limited financial and trade integration has insulated it from the financial crisis and ensuing global recession.\n- Chad is seriously affected by declining oil prices, which will require substantial fiscal adjustment and will lower reserves, albeit not to critical levels."
    },
    {
      "heading": "Key economic impacts and findings",
      "content": "- Lower oil prices have reduced budgetary revenues and reserves.\n- Limited financial and trade integration reduced direct exposure to the global financial crisis and global recession.\n- The fiscal position faces notable strain due to oil revenue declines."
    },
    {
      "heading": "Risks identified",
      "content": "- Lower demand for exports could further weaken external performance.\n- Weaknesses in the foreign banks that own most of Chad’s banking system pose financial sector risks."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Substantial fiscal adjustment is required to respond to declining oil prices.\n- Policies should aim to manage reserve reductions to avoid critical levels while addressing budgetary shortfalls.\n\n---\n\n Content in this bundle\n\n- cr0968\n  - cr0968 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr0968 (PDF){rel=\"external\" type=\"application/pdf\"}\n- cr0968f\n  - cr0968f (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr0968f (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: February 20, 2009",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451836509.002",
    "The staff report presents economic developments and policies for Chad’s 2008 Article IV Consultation.",
    "The global economic crisis has affected Chad’s budget and reserves through lower oil prices.",
    "Chad’s limited financial and trade integration has insulated it from the financial crisis and ensuing global recession.",
    "Chad is seriously affected by declining oil prices, which will require substantial fiscal adjustment and will lower reserves, albeit not to critical levels.",
    "Lower oil prices have reduced budgetary revenues and reserves.",
    "Limited financial and trade integration reduced direct exposure to the global financial crisis and global recession.",
    "The fiscal position faces notable strain due to oil revenue declines.",
    "Lower demand for exports could further weaken external performance.",
    "Weaknesses in the foreign banks that own most of Chad’s banking system pose financial sector risks.",
    "Substantial fiscal adjustment is required to respond to declining oil prices.",
    "Policies should aim to manage reserve reductions to avoid critical levels while addressing budgetary shortfalls.",
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