Union of the Comoros: Staff Report for the 2012 Article IV Consultation, Fourth Review Under the Three-Year Arrangement Under the Extended Credit Facility, and Financing Assurances Review—Staff Report; Staff Supplement; Public Information Notice and P

Staff Report for the 2012 Article IV Consultation, Fourth Review Under the Three-Year Arrangement Under the Extended Credit Facility, and Financing Assurances Review—Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Union of the Comoros.

Author: International Monetary Fund. African Dept.

Volume/Issue: Volume 2013 Issue 032

Publication date: January 1979

ISBN: 9781475595253

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Policy - Social Services and Welfare , ISCR , CR , Three-Year arrangement , Three-Year , GDP , ECF arrangement , government , poverty reduction prospect , policy implementation , authorities' revenue mobilization performance , Arrears , Debt service , Credit , Budget planning and preparation , Global , Europe

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Summary

The Comorian authorities have made steady progress in fiscal consolidation, reinvigorated their structural reform agenda, and gathered strong public support for sound macroeconomic policies. Macroeconomic developments have been largely positive, mostly thanks to improved policies. External competitiveness has improved step by step in the last year by the recent depreciation of the euro vis-à-vis the U.S. dollar. In the medium term, the government intends to seek further gains in fiscal consolidation and to accelerate reform of public enterprises and civil service.