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International Monetary Fund

I. I ntroduction 1. The Federal Islamic Republic of the Comoros (henceforth, the Comoros), situated in the Indian Ocean between Madagascar and the African continent, is comprised of three islands: Grande Comore, Anjouan, and Mohéli. 1 The population in 2000 was estimated at 568,000, of which about 55 percent live on Grand Comore, 40 percent on Anjouan, and 5 percent on Mohéli. About 70 percent of the population is involved in the agricultural sector, which consists of subsistence agriculture (including fishing) and the production of three export crops

International Monetary Fund
This recent economic developments report (RED) provides background information on economic developments in the Comoros during 1997–2000. Revenue and domestic expenditure developments resulted in small overall domestic deficits over much of the period, equivalent of 0.4 percent of GDP in 1998 and declining to 0.2 percent of GDP in both 1999 and 2000. With no source of financing, domestic or external, the Anjouan authorities accumulated substantial wage arrears, estimated at about 15 months at end-2000, as well as suppliers arrears.
International Monetary Fund
International Monetary Fund. African Dept.
Since its independence in 1975, the Union of Comoros has been deeply affected by political and institutional crises. Resolution of the separatist crisis on the island of Anjouan and subsequent national consolidation has constituted a historic turning point. The government has begun a wide-ranging program of structural reforms. The external debt of Comoros remains unsustainable. The government is making efforts to speed up the implementation of reforms and obtain access to a reduction in its debt burden.
International Monetary Fund. African Dept.

facilities in order to boost their production capacity; speed up the installation of the facilities offered by China; speed up completion of the feasibility studies on geothermal sources; update the studies on hydroelectric potential on Anjouan and Mohéli; complete the feasibility studies on the wind potential of the three islands. d) infrastructure In the infrastructure sector, the government has designated as its priority objective to improve basic infrastructures and communications services by: improving the security of the road network; constructing

operations in Comoros have been directed toward supporting economic-related infrastructure, budget support and rural livelihoods. In terms of sector distribution, infrastructure sector projects received the largest share (51 percent) of the total resources committed, followed by multi-sector (30.2 percent) and agriculture (11.2 percent). B. Strategic Orientation 2. The Bank Group re-engagement in Comoros is recent. Following the resolution of the Anjouan crisis in 2007 and the lifting of sanctions in February 2009 after clearance of its arrears with the Bank

International Monetary Fund
This 2004 Article IV Consultation highlights that economic developments in the Union of the Comoros during 2003 were adversely affected by the difficult relationship between the Union and island governments. The related disputes regarding competencies and resources prevented the design and implementation of coherent economic policies, brought to a virtual standstill structural reforms, and undermined confidence at home and abroad, with adverse consequences for private investment and foreign aid. As a result, the Comoros real per capita income declined for the sixth year in a row.
International Monetary Fund
This report on the Observance of Standards and Codes for the Financial Action Task Force (FATF) 40 Recommendations for Anti-Money Laundering (AML) and 9 Special Recommendations on Combating the Financing of Terrorism (CFT) was prepared by the Legal Department of the IMF. It provides a summary of the AML/CFT measures. The assessment is based on the information available at the time of the onsite mission conducted. The views are those of the IMF team and do not reflect the views of the government of the Comoros.