深度报告-2025-09-01-IMF-乍得_关于延长信贷额度下四年安排的请求新闻稿；员工报告；乍得执行主任的发言（英）页_141页_2mb

IMF Country Report No. 25/236: Chad ECF Arrangement Analysis

Context

• Chad is a fragile state facing significant economic development challenges.
• The country requested a 48-month arrangement under the Extended Credit Facility (ECF) to address protracted balance of payments needs and support implementation of the National Development Plan (NDP) 2025-2030.
• Key challenges:
  • Humanitarian crisis from Sudan conflict
  • Climate vulnerabilities
    -_dependency on volatile oil revenues
  • Donor support uncertainties

Program Objectives

The proposed ECF arrangement aims to:

1. Ensure sustainable fiscal policy to create space for development spending
2. Enhance social protection and safety nets
3. Improve governance and business climate

Key Policies

• Fiscal: Reduce non-oil primary deficit to below 5% of GDP through fiscal consolidation while increasing targeted social spending
• Taxes: Implement 5% imports duties and broaden base through administration reforms
• Spending: Streamline wage bill and public spending through DAO reduction
• Governance: Advance oil sector transparency and anti-corruption measures

External Financing

• Program supports $625M ECF access (~325% of quota)
• CID suggests catalyzing $2.5B from multilateral/bilateral partners
• 48-month arrangement covers ~30% of financing gap

Safeguards

• Implementing capacity building to support reforms
• Address climate change adaptation needs
• Maintain strong user commitment to reforms

Conclusion

• Chad requested a new ECF arrangement to support implementation of its National Development Plan while building resilience to external shocks and improving governance.
• The proposed four-year program ($625M access) aims to support fiscal sustainability, enhance social protection, and improve the business environment through coordinated reforms.