Ongoing structural and economic reforms

The Finance Minister’s team advocated for continued support from Bretton Woods institutions to advance and strengthen the economic reforms being pursued through the Extended Credit Facility (ECF) program.

Following recent discussions in Washington, Comoros’ international partners have renewed their support and strengthened financial commitments. During the Annual Meetings of the International Monetary Fund (IMF) and the World Bank, held from October 21-26, Comoros secured backing in five critical sectors. As a result, the two institutions have pledged further investment in energy, water, education, infrastructure, and digital sectors.

The delegation led by the Finance Minister included the Governor of the Central Bank of Comoros (BCC), the General Commissioner for Planning (GCP), and advisors Oubeid Mze Chei and Aboudou Illiassa. Discussions focused primarily on ongoing structural and economic reforms, emphasizing meeting the conditions necessary to complete the current review.

In December, the IMF Board is expected to assess the progress of these reforms, potentially approving significant financial support and budget aid for the first quarter of 2025, contingent upon the successful implementation of agreed reforms. The five areas supported by the Comorian delegation, which garnered strong interest from the World Bank and IMF, were identified as « priorities » due to their direct impact on existing development strategies. The delegation met with IMF Deputy Managing Director Kenji Okamura and the Africa Department head Abebe Selassie.