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International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement on the Second Review of the Extended Credit Facility with the Union of the Comoros

Completing the review will make available SDR 3.56 million (about US$4.7 million) to Comoros, bringing total disbursements under the arrangement to about $14.1 million

The Comorian authorities and IMF staff have reached a staff-level agreement on economic policies and reforms for the second review under the 4-year ECF-supported program. The review, once formally completed by the IMF Executive Board, would release SDR 3.56 million (about US$4.7 million) in financing; Program performance has been generally good…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement on a Four-Year Extended Credit Facility with the Union of the Comoros

This agreement is subject to approval by the IMF Management and Executive Board, with Board consideration expected in the coming weeks

An International Monetary Fund (IMF) team led by Ms. Suchanan Tambunlertchai, Mission Chief for the Union of the Comoros, visited Moroni during March 8 – 23 and held follow-up virtual meetings and in Washington DC during April 5 – 28, with the authorities to discuss IMF support for Comoros’ macro-economic policies…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

IMF Management Completes First Review of the Staff Monitored Program with the Union of the Comoros

The SMP supports the government’s program of reforms

IMF Management has approved the first review of Comoros’ Staff-Monitored Program (SMP). The SMP supports the government’s program of reforms. It also aims to help the authorities establish a track record of policy implementation to pave the way to a potential Extended Credit Facility (ECF) arrangement; Program implementation at end-September 2021…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

IMF Management Approves a Staff Monitored Program for the Union of the Comoros

The authorities’ top priority since the pandemic hit has been to limit the impact on the health of the population and preserve macroeconomic and financial stability

The Staff-Monitored Program (SMP) will help to build a strong track record of policy and reform implementation, possibly paving the way for an IMF-supported program; the six-month SMP will support the government’s program of reforms aimed at (i) supporting the recovery from the COVID-19 pandemic including by providing cash transfers…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

Coronavirus - Comoros: International Monetary Fund (IMF) Executive Board approves US$12 million in Emergency Assistance to the Union of the Comoros to address the COVID-19 Pandemic

The COVID-19 shock comes less than a year after Cyclone Kenneth and is affecting Comoros severely

The COVID-19 pandemic is hurting Comoros’ economy severely; the approval of Comoros’ request will make available US$12 million to the authorities to meet the urgent balance of payment needs stemming from the COVID-19 pandemic, help catalyze development partner support, and address imminent health system needs; the country will also benefit…