Chad: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Chad
IMF Staff Country Reports, December 12, 2024
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- Chad: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Chad
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Bibliographic details
- Published: December 12, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400295065.002
Summary of recent performance and projections
- Post-pandemic recovery picked up steam in 2023 with growth increasing to 4.9 percent.
- Economic growth is projected to decline to 3.1 percent in 2024 on account of the impact of the recent floods and a slight decline in oil production.
- Growth would rebound in the medium term owing to sustained public investment and structural reforms.
Risks to the outlook
- Risks to the outlook are substantial and tilted to the downside, including:
- Potential delays in implementing fiscal consolidation measures.
- A larger-than-expected decline in oil prices.
- An increase in the influx of Sudanese refugees.
- A further increase in the frequency and severity of climate change-related events.
Banking sector and fiscal/structural actions
- Restructuring plans aimed at improving the operational and financial performance of the two systemic public banks while providing for their recapitalization need to be adopted and implemented expeditiously.
- Strengthening governance and anticorruption frameworks is essential.
- Measures to improve education, increase access to basic infrastructure, and promote formalization and financial inclusion are necessary to create a favorable business environment.
Key policy priorities highlighted
- Adopt and implement bank restructuring and recapitalization plans without delay.
- Advance fiscal consolidation measures to reduce downside risks.
- Strengthen governance and anticorruption frameworks to support reforms and private-sector confidence.
- Invest in education and basic infrastructure to support medium-term growth.
- Promote formalization and financial inclusion to expand participation in the formal economy.
International Monetary Fund. Chad: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Chad.
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- 1tcdea2024001-print-pdf