Union of the Comoros: Second Review Under the Staff-Monitored Program-Press Release; and Staff Report

Author: International Monetary Fund. African Dept.

Volume/Issue: Volume 2023 Issue 143

Publication date: April 2023

ISBN: 9798400240751

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Topics covered in this book

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Exports and Imports , Finance , Money and Monetary Policy , Public Finance , International - Economics , SMP staff report , SMP implementation , Comoros' Staff-Monitored Program , debt sustainability risk , reform program , Debt sustainability analysis , Arrears , Global

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Summary

Comoros is a small, fragile island state (population: 850,000) with low and shock-prone growth. A Staff-Monitored Program (SMP) has been in place since July 2021. Policies aimed to: (i) contain and recover from the COVID-19 pandemic; and (ii) start implementing reforms to overcome fragility, boost inclusive growth, and limit risks. The first review assessed implementation through end-September 2021 as satisfactory and rescheduled three structural benchmarks that needed more time from end-December 2021 to end-February 2022. This second (and final) review assessed implementation of end-December 2021 and end-February 2022 quantitative targets and structural benchmarks, as well as overall policy implementation under the SMP.