{
  "title": "Chad: Selected Issues",
  "publication": "IMF Staff Country Reports, August 17, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/chad-selected-issues-44191",
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  "summary": "This Selected Issues paper discusses the structure of the financial sector in Chad and describes the key macro-financial linkages.",
  "sections": [
    {
      "heading": "Main findings",
      "content": "- The paper discusses the structure of the financial sector in Chad and describes the key macro-financial linkages.\n- Macro-financial linkages in Chad are driven by a government sector that dominates economic activities in the more modern sectors of the economy, thanks to oil-related revenues.\n- The main macro-financial linkages are indirect through the associated sharp fiscal adjustment and the government’s quest for additional financing.\n- Direct credit risks linked to the oil sector appear limited.\n- There seems to be a link between declining oil prices and deteriorating banking soundness indicators.\n- Current economic conditions negatively affect private companies dependent on public contracts, potentially hitting the health of banks’ loan portfolios."
    },
    {
      "heading": "Policy-relevant implications",
      "content": "- Fiscal adjustment and government financing needs are central channels through which oil revenue shocks affect the financial sector.\n- Monitoring of banking soundness indicators is important given the observed association with declining oil prices.\n- The exposure of private companies to public contracts implies that public sector spending cuts can transmit to bank asset quality."
    },
    {
      "heading": "Subject coverage and keywords",
      "content": "- Subject: Commodities; Expenditure; Financial institutions; Oil; Oil, gas and mining taxes; Public investment and public-private partnerships (PPP); Public investment spending; Taxes; Treasury bills and bonds\n- Keywords: Africa; Central Africa; Chad; Chadian authorities; CR; gas and mining taxes; Global; investment; investment efficiency; investment project; investment stock; ISCR; making investments function; Oil; Public investment and public-private partnerships (PPP); Public investment spending; securities; Sub-Saharan Africa; treasury bill; Treasury bills and bonds; Treasury securities\n\n---\n\n Content in this bundle\n\n- Chad: Selected Issues; IMF Country Report No. 16/275; July 8, 2016\n  - Chad: Selected Issues; IMF Country Report No. 16/275; July 8, 2016 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Chad: Selected Issues; IMF Country Report No. 16/275; July 8, 2016 (PDF){rel=\"external\" type=\"application/pdf\"}\n- Tchad: Questions generales; Rapport du FMI No 16/275; 8 juillet 2016\n  - Tchad: Questions generales; Rapport du FMI No 16/275; 8 juillet 2016 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Tchad: Questions generales; Rapport du FMI No 16/275; 8 juillet 2016 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "Published: August 17, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475526899.002",
    "The paper discusses the structure of the financial sector in Chad and describes the key macro-financial linkages.",
    "Macro-financial linkages in Chad are driven by a government sector that dominates economic activities in the more modern sectors of the economy, thanks to oil-related revenues.",
    "The main macro-financial linkages are indirect through the associated sharp fiscal adjustment and the government’s quest for additional financing.",
    "Direct credit risks linked to the oil sector appear limited.",
    "There seems to be a link between declining oil prices and deteriorating banking soundness indicators.",
    "Current economic conditions negatively affect private companies dependent on public contracts, potentially hitting the health of banks’ loan portfolios.",
    "Fiscal adjustment and government financing needs are central channels through which oil revenue shocks affect the financial sector.",
    "Monitoring of banking soundness indicators is important given the observed association with declining oil prices.",
    "The exposure of private companies to public contracts implies that public sector spending cuts can transmit to bank asset quality.",
    "Subject: Commodities; Expenditure; Financial institutions; Oil; Oil, gas and mining taxes; Public investment and public-private partnerships (PPP); Public investment spending; Taxes; Treasury bills and bonds",
    "Keywords: Africa; Central Africa; Chad; Chadian authorities; CR; gas and mining taxes; Global; investment; investment efficiency; investment project; investment stock; ISCR; making investments function; Oil; Public investment and public-private partnerships (PPP); Public investment spending; securities; Sub-Saharan Africa; treasury bill; Treasury bills and bonds; Treasury securities",
    "**Chad: Selected Issues; IMF Country Report No. 16/275; July 8, 2016**",
    "**Tchad: Questions generales; Rapport du FMI No 16/275; 8 juillet 2016**"
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