{
  "title": "Chad: Second Review of the Program Under the Extended Credit Facility, Request for Waivers of Nonobservance of Performance Criteria, And Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Chad",
  "publication": "IMF Staff Country Reports, August 22, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/08/22/chad-second-review-of-the-program-under-the-extended-credit-facility-request-for-waivers-of-46187",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2018/08/22/chad-second-review-of-the-program-under-the-extended-credit-facility-request-for-waivers-of-46187",
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  "summary": "This paper discusses Chad’s Second Review of the Program Under the Extended Credit Facility, Request for Waivers of Nonobservance of Performance Criteria (PCs), and Financing Assurances Review.",
  "sections": [
    {
      "heading": "Review findings and compliance with program conditions",
      "content": "- All but one performance criterion (PC) for end-December 2017 were met.\n- All structural benchmarks were met.\n- Most indicative targets for end-March 2018 were met.\n- The continuous PC on the nonaccumulation of external arrears was missed.\n- The authorities are requesting waivers for the two missed PCs."
    },
    {
      "heading": "Debt restructuring and financing assurances",
      "content": "- The final agreement to restructure the Glencore debt was signed in June (prior action).\n- The Glencore debt restructuring is reported to be in line with the program.\n- The restructuring is stated to restore debt sustainability and generate sufficient financing for the program."
    },
    {
      "heading": "Subjects and keywords (as listed)",
      "content": "- Subject: Arrears, External debt, Fiscal policy, Fiscal stance, Public and publicly-guaranteed external debt, Public debt\n- Keywords: amount, Arrears, center, Chadian authorities, CR, ECF arrangement, Fiscal stance, government, ISCR, nonobservance of the performance criterion, Public and publicly-guaranteed external debt, staff appraisal, waiver of nonobservance\n\nSource: IMF Staff Country Report No. 2018/260 (August 22, 2018).\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "[Markdown version](/en/publications/cr/issues/2018/08/22/chad-second-review-of-the-program-under-the-extended-credit-facility-request-for-waivers-of-46187/index.md)",
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    "Published: August 22, 2018",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484373880.002",
    "All but one performance criterion (PC) for end-December 2017 were met.",
    "All structural benchmarks were met.",
    "Most indicative targets for end-March 2018 were met.",
    "The continuous PC on the nonaccumulation of external arrears was missed.",
    "The authorities are requesting waivers for the two missed PCs.",
    "The final agreement to restructure the Glencore debt was signed in June (prior action).",
    "The Glencore debt restructuring is reported to be in line with the program.",
    "The restructuring is stated to restore debt sustainability and generate sufficient financing for the program.",
    "Subject: Arrears, External debt, Fiscal policy, Fiscal stance, Public and publicly-guaranteed external debt, Public debt",
    "Keywords: amount, Arrears, center, Chadian authorities, CR, ECF arrangement, Fiscal stance, government, ISCR, nonobservance of the performance criterion, Public and publicly-guaranteed external debt, staff appraisal, waiver of nonobservance",
    "**Country Report**"
  ],
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      "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2018/cr18260.pdf",
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