LEADER 07561oam 22012494 450 001 9910823142103321 005 20240405083934.0 010 $a1-4983-6727-5 010 $a1-4983-8861-2 010 $a1-4983-9202-4 035 $a(CKB)2670000000570283 035 $a(EBL)1811562 035 $a(SSID)ssj0001398964 035 $a(PQKBManifestationID)11891175 035 $a(PQKBTitleCode)TC0001398964 035 $a(PQKBWorkID)11447053 035 $a(PQKB)10885519 035 $a(MiAaPQ)EBC1811562 035 $a(Au-PeEL)EBL1811562 035 $a(CaPaEBR)ebr10951293 035 $a(CaONFJC)MIL649358 035 $a(OCoLC)880531092 035 $a(IMF)1TCDEE2014002 035 $a(IMF)1TCDEA2014002 035 $a(EXLCZ)992670000000570283 100 $a20020129d2014 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aChad : $eRequest for a Three-Year Arrangement Under the Extended Credit Facility 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2014. 215 $a1 online resource (95 p.) 225 1 $aIMF Staff Country Reports 300 $aDescription based upon print version of record. 311 $a1-4983-2451-7 311 $a1-322-18094-6 327 $aCover; Contents; BACKGROUND; RECENT ECONOMIC DEVELOPMENTS; FIGURES; 1. Recent Economic Developments, 2008-2014; PERFORMANCE UNDER THE STAFF-MONITORED PROGRAM; MACROECONOMIC STABILITY AND SUSTAINED NON-OIL GROWTH: POLICIES UNDER A THREE-YEAR ECF ARRANGEMENT; A. Justification and Main Objectives; B. Medium-Term Macroeconomic and Fiscal Frameworks; BOXES; 1. The State's Purchase of Chevron's Shares: Fiscal and Institutional Implications; 2. Oil Sector Prospects and the Impact on Fiscal Revenues; C. Fiscal Reforms in Support of Program Objectives 327 $aD. Additional Reforms Aimed at Reinforcing an Inclusive and Sustainable Economic GrowthE. Reaching the HIPC Completion Point; PROGRAM MODALITIES, SAFEGUARDS, AND RISKS; STAFF APPRAISAL; TABLES; 1. Selected Economic and Financial Indicators, 2010-17; 2. Real GDP per sector, 2010-17; 3. Fiscal Operations of the Central Government, 2010-17; 4. Fiscal Operations of the Central Government, 2010-17; 5. Balance of Payments, 2010-17; 6. Monetary Survey, 2009-17; 7. Financial Soundness Indicators, 2007-12; 8. Key Reforms and Objectives to be Achieved Before the Completion Point 327 $a9. SMP Quantitative Indicators, June 1 to December 31, 201310. Structural Conditionality Under the SMP; 11. Proposed Schedule of Disbursements Under the ECF Arrangement, 2014-17; 12. Indicators of Capacity to Repay the Fund, 2014-25; 13. Multi-year Fiscal Structural Reforms; APPENDICE; I. Letter of Intent; Attachment I. Memorandum of Economic and Financial Policies; Attachment II. Technical Memorandum of Understanding 330 3 $aKEY ISSUES Context: Chad is a fragile country with weak institutional capacity that needs to manage volatile and exhaustible oil revenues prudently to tackle its large development needs. Chad is enjoying a period of domestic political stability, but major regional security issues are imposing significant fiscal costs in both the short and medium term. Macroeconomic policy over the last few years has achieved a gradual tightening of the underlying fiscal policy stance together with a sizable increase in public investment. Satisfactory performance under an SMP in 2013 demonstrated the authorities? commitment to improved macroeconomic management and has set the ground for an upper credit tranche arrangement with the Fund. Policy Framework: The government?s medium-term economic program, anchored by the 2013-2015 National Development Plan (NDP), aims at reinforcing economic growth and making it more inclusive, while maintaining macroeconomic stability and fiscal sustainability. Given the continued heavy dependence on volatile oil revenues that are projected to decline over the long-term and the currently high risk of debt distress, macroeconomic policies target a sustained fiscal adjustment, a buildup of liquidity buffers, and economic diversification. Those objectives will be underpinned by a reform agenda focused on strengthening public financial and debt management and improving the business environment. Request for an Extended Credit Facility arrangement: In the attached letter of intent, the authorities request a three-year arrangement under the Extended Credit Facility (ECF) in the amount of SDR 79.92 million (120 percent of quota) in support of their medium-term economic program. The ECF arrangement is expected to address the country?s protracted balance of payments? problems resulting from a trend reduction in oil revenues, maintain adequate international reserves? coverage, and play a catalytic role for bilateral and multilateral assistance to Chad. The accompanying memorandum of economic and financial policies spells out in more detail the objectives of the program and policy actions that the government of Chad envisages to undertake during 2014?17. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2014/282 606 $aInvestments: Energy$2imf 606 $aExports and Imports$2imf 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aTaxation$2imf 606 $aInternational Lending and Debt Problems$2imf 606 $aBusiness Taxes and Subsidies$2imf 606 $aNational Government Expenditures and Related Policies: General$2imf 606 $aEnergy: General$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aPublic finance & taxation$2imf 606 $aInternational economics$2imf 606 $aInvestment & securities$2imf 606 $aSocial welfare & social services$2imf 606 $aOil, gas and mining taxes$2imf 606 $aOil$2imf 606 $aPublic debt$2imf 606 $aExternal debt$2imf 606 $aPublic financial management (PFM)$2imf 606 $aTaxes$2imf 606 $aCommodities$2imf 606 $aDebts, External$2imf 606 $aPetroleum industry and trade$2imf 606 $aDebts, Public$2imf 606 $aFinance, Public$2imf 607 $aChad$xEconomic conditions 607 $aChad$xEconomic policy 607 $aChad$2imf 615 7$aInvestments: Energy 615 7$aExports and Imports 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aTaxation 615 7$aInternational Lending and Debt Problems 615 7$aBusiness Taxes and Subsidies 615 7$aNational Government Expenditures and Related Policies: General 615 7$aEnergy: General 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aPublic finance & taxation 615 7$aInternational economics 615 7$aInvestment & securities 615 7$aSocial welfare & social services 615 7$aOil, gas and mining taxes 615 7$aOil 615 7$aPublic debt 615 7$aExternal debt 615 7$aPublic financial management (PFM) 615 7$aTaxes 615 7$aCommodities 615 7$aDebts, External 615 7$aPetroleum industry and trade 615 7$aDebts, Public 615 7$aFinance, Public 676 $a335.96743 801 0$bDcWaIMF 906 $aBOOK 912 $a9910823142103321 996 $aChad$93946527 997 $aUNINA