[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109910-en":3,"doc-seo-109910-105":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},109910,1374391974564,"Clementine","https://ap-avatar.wpscdn.com/avatar/14000253aa45c000a9e?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779874745381141002",8,"Research & Report","Comoros - Joint World Bank-IMF Debt Sustainability Analysis - April 2020","Joint World Bank-IMF debt sustainability analysis for Comoros updates the external debt and public debt outlook by incorporating COVID-19 impacts. The report finds the overall risk of debt distress remains moderate, with limited space to absorb shocks. Compared with the 2019 Article IV baseline, projections assume weaker growth and exports, increasing external and fiscal financing needs in 2020-21. Stress tests and alternative scenarios highlight vulnerability to natural disasters, export shocks, and depreciation, while public-sector domestic debt stays small.","Public Disclosure Authorized Public Disclosure Authorized  \nINTERNATIONAL DEVELOPMENT ASSOCIATION  \nINTERNATIONAL MONETARY FUND  \nCOMOROS  \nJOINT WORLD BANK-IMF DEBT SUSTAINABILITY ANALYSIS  \nApril 2020  \nPrepared jointly by the staffs ofthe International Development Association (IDA)  \nand the International Monetary Fund (IMF)  \n\n| Comoros: Joint Bank-Fund Debt Sustainability Analysis1 |  |\n| --- | --- |\n| Risk of external debt distress: | Moderate2 |\n| Overall risk of debt distress | Moderate |\n| Granularity in the risk rating | Limited Space |\n| Application of judgment | No |\n| Macroeconomic projections | Deviations due to the COVID-19 |\n| Financing strategy | Additional aid and borrowing |\n| Realism tools flagged | No flagged issues |\n| Mechanical risk rating under the external DSA | Medium |\n| Mechanical risk rating under the public DSA | Medium |\n\n1 The DSA coverage remains unchanged, covering the central government, the central bank (IMF facilities), and governmentguaranteed debt of state-owned enterprises.  \n2 Comoros’ debt carrying capacity is assessed as medium with the Composite Indicator (CI) of 2 . 97, which is based on the October WEO 2019 and the 2018 CPIA.  \nThis streamlined updated DSA incorporates the COVID-19 impact. Compared to the DSA prepared for the 2019 Article IV consultation, the economic outlook is assumed to be weaker. For 2020, economic growth projections are revised down by 5.6 percentage points to-1.2 percent, and growth of exports of goods and services is revised by 10.1 percentage points to -9.7 percent, followed by a fairly quick recovery in 2021.These and related changes result in additional external and fiscal financing needs of 5.2 percent of GDP and 4.7 percent of GDP in 2020-21, respectively. These needs are expected to be filled in part by additional grants (1.7 percent of GDP), and additional external borrowing (2.6 percent of GDP). Long run projections for economic and export growth remain broadly unchanged from before.  \nComoros’ debt carrying capacity continues to be assessed as medium, and total contingent liabilities are maintained at 10.9 percent of GDP. The realism tools do not flag issues. The updated DSA finds that the risk of external debt distress remains “medium”, with limited space to absorb shocks. As in the previous DSA, all debt and debt service indicators remain below their respective thresholds but exhibit an upward trend over the long run. (ThePV ofPPG external debt-to-exports ratio increases by 1 per-centage point in 2029 to 161.2 percent compared to the previous DSA). Also, buffers to high risk territory are now forecast to erode more quickly as a result of weaker export and growth performance and additional take-up of debt in the near term. Stress tests and alternative scenarios continue to demonstrate Comoros’ vulnerability to natural disasters, shocks to exports, and depreciation. Public-sector domestic debt remains small, with no breaches of the public debt benchmark under the baseline or adverse scenarios.  \n\n| Table 1. Comoros: External Debt Sustainability Framework, Baseline Scenario, 2016-2039\u003Cbr>(In percent of GDP; unless otherwise indicated) |  |  |  |  |\n| --- | --- | --- | --- | --- |\n| Actual Projections |  |  |  | Average 8/\u003Cbr>Historical Projections\u003Cbr>20.2 32.5\u003Cbr>20.2 32.5\u003Cbr>1.4 1.7 |\n| 2016 2017 2018 2019 2020 2021 2022 2023 2024 2029 2039 |  |  |  |  |\n| \u003Cbr>External debt (nominal) 1/ 16.4 17.0 19.6\u003Cbr>of which: public and publicly guaranteed (PPG) 16.4 17.0 19.6\u003Cbr>Change in external debt 2.5 0.5 2.7\u003Cbr>Identified net debt-creating flows 3.4 0.8 0.7 | \u003Cbr>23.8 29.7 32.3 33.0 33.6 33.9\u003Cbr>23.8 29.7 32.3 33.0 33.6 33.9\u003Cbr>4.2 5.9 2.6 0.7 0.6 0.3\u003Cbr>3.1 5.9 3.5 2.7 1.7 1.0 | \u003Cbr>34.8 34.8\u003Cbr>0.3\u003Cbr>0.2 | \u003Cbr>38.0 38.0\u003Cbr>0.3\u003Cbr>0.0 |  |\n| \u003Cbr>Non-interest current account deficit 4.3 2.1 2.7 3.6 5.4 4.1 4.1 3.2 2.8 2.2 2.1 2.7 3.1\u003Cbr>Deficit in balance of goods and services 15.8 16.4 17.1 17.7 18.2 17.0 17.5 17.4 17.4 16.6 16.0 19.0 17.2\u003Cbr>Exports ","cbCaij7SdZmPyK7T","https://ap.wps.com/l/cbCaij7SdZmPyK7T","pdf",590437,3,1,11,"English","en",105,"# Executive Summary\n## Risk rating and realism tools\n## Financing strategy and macroeconomic assumptions\n## Debt indicators and stress tests\n## External debt sustainability framework (baseline 2016-2039)","[{\"question\":\"What is the overall risk rating of debt distress for Comoros in this analysis?\",\"answer\":\"The analysis rates the risk of external debt distress as “moderate,” and the overall risk of debt distress is also moderate.\"},{\"question\":\"How did COVID-19 affect the macroeconomic projections in the updated DSA?\",\"answer\":\"The outlook is assumed weaker: 2020 growth is revised down by 5.6 percentage points to -1.2 percent, and export growth is revised down by 10.1 percentage points to -9.7 percent, followed by recovery in 2021.\"},{\"question\":\"What financing needs and strategy are projected for 2020-21?\",\"answer\":\"Additional external financing needs of 5.2 percent of GDP and fiscal financing needs of 4.7 percent of GDP are expected in 2020-21, filled in part by additional grants (1.7 percent of GDP) and additional external borrowing (2.6 percent of GDP).\"}]","Comoros - Joint World Bank-IMF Debt Sustainability Analysis - April 2020 | PDF",1784482987,28,{"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},"comoros-joint-world-bank-imf-debt-sustainability-analysis-april-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/comoros-joint-world-bank-imf-debt-sustainability-analysis-april-2020/109910/",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","2026-07-30","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 rating of debt distress for Comoros in this analysis?","Question",{"text":76,"@type":77},"The analysis rates the risk of external debt distress as “moderate,” and the overall risk of debt distress is also moderate.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"How did COVID-19 affect the macroeconomic projections in the updated DSA?",{"text":81,"@type":77},"The outlook is assumed weaker: 2020 growth is revised down by 5.6 percentage points to -1.2 percent, and export growth is revised down by 10.1 percentage points to -9.7 percent, followed by recovery in 2021.",{"name":83,"@type":74,"acceptedAnswer":84},"What financing needs and strategy are projected for 2020-21?",{"text":85,"@type":77},"Additional external financing needs of 5.2 percent of GDP and fiscal financing needs of 4.7 percent of GDP are expected in 2020-21, filled in part by additional grants (1.7 percent of GDP) and additional external borrowing (2.6 percent of GDP).","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"]