An International Monetary Fund (IMF) mission, led by Julien Reynaud, concluded discussions in N'Djamena on May 16, 2025, with the Chadian authorities regarding a new program under the Extended Credit Facility (ECF). The program is set to be supported by IMF resources amounting to approximately US$630 million over four years.
Julien Reynaud stated, "IMF staff completed policy discussions with the authorities on a potential new program under the Extended Credit Facility (ECF) to be supported by IMF resources of about US$630 million (SDR 455.65 million) over four years."
Chad's National Development Plan (NDP), known as Chad Connexion 2030, focuses on infrastructure development, social policy and essential public services, economic and industrial development, and improving the business environment. These reforms come at a time when Chad faces challenges due to regional instability, lower oil prices, and reduced official development aid funding.
Reynaud noted that Chad's GDP growth was 3.5 percent in 2024 compared to 5 percent in 2023. Growth is expected to be 3.3 percent in 2025 before increasing gradually over the medium term. He emphasized that the outlook depends on reform implementation and external conditions.
The proposed ECF aims to reduce Chad's fiscal deficit by increasing non-oil revenues and controlling expenditure in non-priority sectors. This involves measures such as indirect taxation adjustments and digitalization of tax administrations. The target is to reduce the fiscal deficit to an average of 1.5 percent of GDP over the program duration.
The Chadian authorities expressed their commitment to structural reforms for better fiscal transparency and governance. They plan an audit report for government revenues from the oil sector as part of these efforts.
Chad is also working on restructuring state-owned banks for eventual disinvestment and collaborating with regional partners within CEMAC for financial stability.
"The Chadian authorities reaffirmed their commitment to implement structural reforms," said Reynaud, highlighting areas like climate resilience and anti-corruption efforts.
The IMF mission engaged with various officials including Mr. Tahir Hamid Nguilin, Minister of Finance; Mr. Idriss Ahmed Idriss, National Director of BEAC; Ms. Ndolenodji Alix Naimbaye, Minister of Petroleum; among others from finance-related ministries and sectors.
"The IMF mission thanks the Chadian authorities for their warm welcome," concluded Reynaud after meetings with productive sector representatives and civil society groups.