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…

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…

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…

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…

International Monetary Fund (IMF) Executive Board Approves US$12.3 Million Rapid Financial Assistance to the Union of Comoros in the Wake of Cyclone Kenneth

These funds will help the authorities address large budgetary and external financing needs arising from the effects of Tropical Cyclone Kenneth

IMF financial assistance will help to address Comoros’ budgetary and external financing gaps arising from reconstruction and humanitarian needs after Cyclone Kenneth; The authorities are committed to rebuilding the economy’s productive capacity. To this end, they plan to repair damaged infrastructure and provide support to the poor while maintaining macroeconomic…

International Monetary Fund (IMF) Staff completes mission to Comoros on possible emergency financial assistance following Cyclone Kenneth

IMF assistance would help address Comoros’ budgetary and external financing gaps arising from reconstruction and humanitarian needs

IMF mission reached a preliminary staff-level understanding on a possible emergency financial assistance to Comoros, following tropical Cyclone Kenneth; IMF assistance would help address Comoros’ budgetary and external financing gaps arising from reconstruction and humanitarian needs; the assistance could also play a catalyst role in securing grants from development partners and…

IMF Executive Board Concludes 2016 Article IV Consultation with the Union of the Comoros

Growth in 2016 is estimated at 1 percent in 2015, below the annual population growth rate of 2.5 percent

On December, 7, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with The Union of the Comoros. The Comorian economy encountered difficulties in 2015 and the first half of 2016. Growth in 2016 is estimated at 1 percent in 2015, below the annual…

AFRITAC South Holds Seminar on Strengthening Supervisory Approaches to AML/CFT

During May 16-20, 2016, the International Monetary Fund’s Regional Technical Assistance Center for Southern Africa (AFRITAC South) held a seminar at the premises of the IMF’s Africa Training Institute in Mauritius on Risk-Based Approaches to Anti Money Laundering and Combating the Financing of Terrorism (AML/CFT) Supervision. The event brought together…

The IMF’s Regional Technical Assistance Center South Supports Strengthening Coordinated Border Management

On February 15–19, 2016, AFRITAC South held a seminar at the Africa Training Institute in Mauritius on improving compliance of indirect taxes and coordinated border management (CBM). The event brought together senior customs officials from revenue administrations from Angola, Comoros, Lesotho, Madagascar, Mauritius, Namibia, Seychelles, South Africa, Swaziland, Zambia and…

The IMF’s Regional Technical Assistance Center South Supports Strengthening the Administration of Large Taxpayers in the Southern Africa region

On October 5-9, 2015, AFRITAC South organized a seminar that brought together senior Tax Administration Officials in charge of designing, leading, and implementing tax administration systems for large taxpayers from Angola, Botswana, Comoros, Lesotho, Madagascar, Mauritius, Mozambique, Namibia, Seychelles, Swaziland, Zambia, and Zimbabwe. The event was hosted by the African…