[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109702-en":3,"doc-seo-109702-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},109702,1374391975076,"Riley","https://ap-avatar.wpscdn.com/avatar/14000253ca4ec9f6853?x-image-process=image/resize,m_fixed,w_180,h_180&k=1783305029341752051",8,"Research & Report","Chad Joint World Bank-IMF Debt Sustainability Analysis - May 2020","Joint World Bank–IMF debt sustainability analysis for Chad assesses the risk of external and overall debt distress under baseline and stress scenarios. The overall and external risk ratings remain high, with the coronavirus crisis materially increasing risk and borrowing needs over several years. Baseline projections indicate debt stays sustainable, yet the debt-to-revenue indicator breaches high-risk thresholds through 2027. Pandemic-related pressures also raise the present value of public debt-to-GDP above its threshold during 2020–2024. The assessment relies on continued fiscal prudence and post-crisis non-oil revenue improvements.","Public Disclosure Authorized  \nINTERNATIONAL DEVELOPMENT ASSOCIATION  \nINTERNATIONAL MONETARY FUND  \nCHAD  \nJOINT WORLD BANK-IMF DEBT SUSTAINABILITY ANALYSIS  \nMay 2020  \nPrepared jointly by the staffs ofthe International Development Association (IDA)  \nand the International Monetary Fund (IMF) Approved by Marcello Estevão (IDA), David Owen and Gavin Gray (IMF)  \nPub lic Disc losure Authorized  \n\n| Chad Joint Bank-Fund Debt Sustainability Analysis |  |\n| --- | --- |\n| Risk of external debt distress | High |\n| Overall risk of debt distress | High |\n| Granularity in the risk rating | Sustainable |\n| Application of judgement | No |\n\nChad’s risks of external and overall debt distress remain high and the impact of the coronavirus crisis has appreciably elevated risk since the last DSA. The pandemic is expected to raise borrowing needs markedly for several years. Although debt remains sustainable under the baseline forecast, uncertainty has also risen. Under the baseline, three of the external debt sustainability indicators stay below their respective high-risk thresholds, but the debt-to-revenue ratio breaches its threshold through 2027. Under stress scenarios indicators approach levels seen during Chad’s last episode of debt distress. Total public debt vulnerabilities are elevated, and the pandemic pushes the present value (PV) of public debt-to-GDP ratio above its threshold from 2020 to 2024. The debt sustainability analysis is based on projected continued fiscal prudence and an increase in non-oil revenues after the pandemic crisis abates. Following the restructuring in 2018, the new Glencore debt contract has allowed lower debt service to cushion the recent oil price declines, with some remaining flexibility remaining.  \nPUBLIC DEBT COVERAGE  \n1. The coverage of public debt includes state and local governments and the national oil company. As in the previous DSA, coverage includes the central government, as well as state guaranteed external debt owed by the public oil company “Société des Hydrocarbures du Tchad”(SHT) (Text Table 1). This scope encompasses all public external debt; other public sector entities (including sub-national government and other state-owned enterprises) do not have access to external financing. The Ministry of Finance census of public sector enterprises uncovered the outstanding domestic borrowing of the largest SOEs. Because these are mostly commercial arrears with no formal maturity, they have been added to the contingency analysis.  \n2. The contingent liability stress test accounts for vulnerabilities associated with nonguaranteed state-owned enterprises (SOEs), possible unaudited domestic arrears, and financial markets (Text Table 1). The SOE census indicates that as of 2017, the Société de Raffinage de Ndjamena (SRN), Société Nationale d'Electricité (SNE) and Société Nationale de Ciment (SONACIM) have a combined debt of about CFA 540 billion or 9.5 percent of GDP. 1 Contingent liabilities from financial markets are set at 5 percent of GDP, which represents the average cost to the government of a financial crisis in a low-income country since 1980. The audit of arrears has been completed but the government has not made specific plans for paying them, so the contingent liability is the full value of audited arrears, 6.9 percent of GDP2. The contingent liability stress test is customized to 21 percent.  \n\n| Text Table 1. Chad: Coverage of Public-Sector Debt and Design of Contingent Liability Stress Tests |\n| --- |\n|  Subsectors of the public sector  Check box \u003Cbr>Central government X\u003Cbr>State and local government X\u003Cbr>Other elements in the general government\u003Cbr>o/w: Social security fund\u003Cbr>o/w: Extra budgetary funds (EBFs)\u003Cbr>Guarantees (to other entities in the public and private sector, including to SOEs)\u003Cbr>Central bank (borrowed on behalf of the government) X Non-guaranteed SOE debt 1\u003Cbr>2\u003Cbr>3\u003Cbr>4\u003Cbr>5\u003Cbr>6\u003Cbr>7\u003Cbr>8\u003Cbr> |\n| 1 The country's coverage of public debt The central, state, and local g","cbCail9w4Fy6CaXg","https://ap.wps.com/l/cbCail9w4Fy6CaXg","pdf",659160,3,1,18,"English","en",105,"# Risk Assessment and Scenarios\n## External and Overall Debt Distress\n## Baseline vs. Stress Indicators\n# Debt Coverage and Contingent Liabilities\n## Scope of Public Debt Coverage\n## Contingent Liability Stress Tests\n# Background and Debt Evolution\n## Evolution and Composition of Debt","[{\"question\":\"What is the overall risk assessment for Chad’s debt distress?\",\"answer\":\"The overall risk of debt distress is rated high, and the external debt distress risk remains high as well.\"},{\"question\":\"How does the coronavirus crisis affect the debt sustainability outlook?\",\"answer\":\"The pandemic elevates debt distress risk and increases borrowing needs for several years, pushing key ratios above thresholds in the projection period.\"},{\"question\":\"Which indicators breach high-risk thresholds under the baseline forecast?\",\"answer\":\"Under the baseline, the debt-to-revenue ratio breaches its high-risk threshold through 2027, and the PV of public debt-to-GDP exceeds its threshold during 2020–2024.\"}]","Chad Joint World Bank-IMF Debt Sustainability Analysis - May 2020 | PDF",1784481969,45,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":29},"chad-joint-world-bank-imf-debt-sustainability-analysis-may-2020","",{"@graph":37,"@context":86},[38,54,69],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,51],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":20},"https://docshare.wps.com/document/research-report/",{"item":52,"name":13,"@type":44,"position":53},"https://docshare.wps.com/document/chad-joint-world-bank-imf-debt-sustainability-analysis-may-2020/109702/",4,{"url":52,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":24,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":42,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-07-29","2026-07-19",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"What is the overall risk assessment for Chad’s debt distress?","Question",{"text":76,"@type":77},"The overall risk of debt distress is rated high, and the external debt distress risk remains high as well.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"How does the coronavirus crisis affect the debt sustainability outlook?",{"text":81,"@type":77},"The pandemic elevates debt distress risk and increases borrowing needs for several years, pushing key ratios above thresholds in the projection period.",{"name":83,"@type":74,"acceptedAnswer":84},"Which indicators breach high-risk thresholds under the baseline forecast?",{"text":85,"@type":77},"Under the baseline, the debt-to-revenue ratio breaches its high-risk threshold through 2027, and the PV of public debt-to-GDP exceeds its threshold during 2020–2024.","https://schema.org",{"og:url":52,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":52},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":93},[94,98,102,106,111,116,121,124,129,132,136],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":53,"doc_module":4,"doc_module_name":47,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":107,"doc_module":4,"doc_module_name":47,"category_name":108,"show_sort_weight":109,"slug":110},5,"Comic",60,"comic",{"id":112,"doc_module":4,"doc_module_name":47,"category_name":113,"show_sort_weight":114,"slug":115},6,"Technology",50,"technology",{"id":117,"doc_module":4,"doc_module_name":47,"category_name":118,"show_sort_weight":119,"slug":120},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":122,"slug":123},30,"research-report",{"id":125,"doc_module":4,"doc_module_name":47,"category_name":126,"show_sort_weight":127,"slug":128},9,"Religion & Spirituality",20,"religion-spirituality",{"id":127,"doc_module":4,"doc_module_name":47,"category_name":130,"show_sort_weight":127,"slug":131},"World Cup","world-cup",{"id":133,"doc_module":4,"doc_module_name":47,"category_name":134,"show_sort_weight":133,"slug":135},10,"Lifestyle","lifestyle",{"id":137,"doc_module":4,"doc_module_name":47,"category_name":138,"show_sort_weight":107,"slug":139},19,"General","general"]