Union of Comoros - Joint World Bank-IMF Debt Sustainability Analysis
The Union of Comoros remains at moderate risk of external debt distress, but its space to absorb shocks is “limited.” All debt burden indicators exhibit a continual upward trend, with the PV of debt-to-export approaching its threshold at the end of...
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World Bank, Washington, DC
2019
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| Online Access: | http://documents.worldbank.org/curated/en/152471570789360222/Union-of-Comoros-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019 http://hdl.handle.net/10986/32579 |
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okr-10986-325792021-05-25T09:28:45Z Union of Comoros - Joint World Bank-IMF Debt Sustainability Analysis World Bank International Monetary Fund DEBT DISTRESS DEBT SERVICE BURDEN CONTINGENT LIABILITY PUBLIC SECTOR DEBT PUBLIC AND PUBLICLY GUARANTEED DEBT EXTERNAL DEBT SUSTAINABILITY ANALYSIS RISK ASSESSMENT MACROECONOMIC PROJECTION NATURAL DISASTER The Union of Comoros remains at moderate risk of external debt distress, but its space to absorb shocks is “limited.” All debt burden indicators exhibit a continual upward trend, with the PV of debt-to-export approaching its threshold at the end of the assessment horizon (2029) under the baseline scenario. (Thresholds reflect “medium” capacity to carry debt). The reduced space to absorb shocks reflects the taking on of a large new loan, a downward revision of projected exports in line with lower export prices and impacts of Cyclone Kenneth on debt accumulation. Shock scenarios indicate vulnerability to a deterioration of export performance, natural disasters, and exchange rate instability. Comoros’ overall risk of debt distress remains moderate, given that domestic debt is expected to remain minimal. The authorities need to strengthen policies to improve macroeconomic performance including by making faster progress on domestic resource mobilization and broadening the export base. The authorities should proceed cautiously on taking up any new debt and may wish to largely avoid new non-concessional debt. 2019-10-18T13:54:09Z 2019-10-18T13:54:09Z 2019-08 Report http://documents.worldbank.org/curated/en/152471570789360222/Union-of-Comoros-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019 http://hdl.handle.net/10986/32579 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Debt and Creditworthiness Study Africa Comoros |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English |
| topic |
DEBT DISTRESS DEBT SERVICE BURDEN CONTINGENT LIABILITY PUBLIC SECTOR DEBT PUBLIC AND PUBLICLY GUARANTEED DEBT EXTERNAL DEBT SUSTAINABILITY ANALYSIS RISK ASSESSMENT MACROECONOMIC PROJECTION NATURAL DISASTER |
| spellingShingle |
DEBT DISTRESS DEBT SERVICE BURDEN CONTINGENT LIABILITY PUBLIC SECTOR DEBT PUBLIC AND PUBLICLY GUARANTEED DEBT EXTERNAL DEBT SUSTAINABILITY ANALYSIS RISK ASSESSMENT MACROECONOMIC PROJECTION NATURAL DISASTER World Bank International Monetary Fund Union of Comoros - Joint World Bank-IMF Debt Sustainability Analysis |
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Africa Comoros |
| description |
The Union of Comoros remains at moderate
risk of external debt distress, but its space to absorb
shocks is “limited.” All debt burden indicators exhibit a
continual upward trend, with the PV of debt-to-export
approaching its threshold at the end of the assessment
horizon (2029) under the baseline scenario. (Thresholds
reflect “medium” capacity to carry debt). The reduced space
to absorb shocks reflects the taking on of a large new loan,
a downward revision of projected exports in line with lower
export prices and impacts of Cyclone Kenneth on debt
accumulation. Shock scenarios indicate vulnerability to a
deterioration of export performance, natural disasters, and
exchange rate instability. Comoros’ overall risk of debt
distress remains moderate, given that domestic debt is
expected to remain minimal. The authorities need to
strengthen policies to improve macroeconomic performance
including by making faster progress on domestic resource
mobilization and broadening the export base. The authorities
should proceed cautiously on taking up any new debt and may
wish to largely avoid new non-concessional debt. |
| format |
Report |
| author |
World Bank International Monetary Fund |
| author_facet |
World Bank International Monetary Fund |
| author_sort |
World Bank |
| title |
Union of Comoros - Joint World Bank-IMF Debt Sustainability Analysis |
| title_short |
Union of Comoros - Joint World Bank-IMF Debt Sustainability Analysis |
| title_full |
Union of Comoros - Joint World Bank-IMF Debt Sustainability Analysis |
| title_fullStr |
Union of Comoros - Joint World Bank-IMF Debt Sustainability Analysis |
| title_full_unstemmed |
Union of Comoros - Joint World Bank-IMF Debt Sustainability Analysis |
| title_sort |
union of comoros - joint world bank-imf debt sustainability analysis |
| publisher |
World Bank, Washington, DC |
| publishDate |
2019 |
| url |
http://documents.worldbank.org/curated/en/152471570789360222/Union-of-Comoros-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019 http://hdl.handle.net/10986/32579 |
| _version_ |
1764476843706023936 |