Publication: Union of the Comoros : Debt Management Performance Assessment
Files in English
172 downloads
86 downloads
545 downloads
32 downloads
Date
2011-06
ISSN
Published
2011-06
Author(s)
World Bank
Abstract
This study shows that performance in
terms of debt management has been weakened by recurrent
political and institutional crises experienced by the
country in recent years and has had a negative impact on the
State's ability to both mobilize external financing and
to honor its financial commitments. The accumulation of
external arrears has increased by extension of the depletion
sources of funding. However, the government recently
initiated numerous actions contributing to a more serene
climate at home with the establishment of democratic
governance, developing a program of poverty reduction and
regularization of arrears. This more favorable environment
will soon pave the way for more substantial outside funding,
especially following the accession of the Comoros to the
enhanced Heavily Indebted Poor Countries (HIPC), and
therefore requires the full attention of the authorities to
implement better management of public debt. This evaluation
is part of this perspective. Overall, performance in terms
of debt management in the Comoros is satisfactory in all
three of the following areas: (i) coordination with fiscal
policy, including the integration of forecasts and actual
payment of debt service in the preparation and monitoring of
budget, (ii) coordination with monetary policy focused on
the management of statutory advances granted by the Central
Bank of Comoros (BCC), and (iii) procedures for payment of
service external debt.
Citation
“World Bank. 2011. Union of the Comoros : Debt Management Performance Assessment; Union des Comores : Outil d’évaluation de la performance en matière de gestion de la dette
(DeMPA). © Washington, Dc. http://openknowledge.worldbank.org/handle/10986/16714 License: CC BY 3.0 IGO.”