Chad has reached an agreement with the International Monetary Fund (IMF) on May 23 for a new four-year financial support program. The program, potentially worth about $630 million, will be under the IMF's Extended Credit Facility. This support comes as Chad aims to implement its National Development Plan amidst economic difficulties.
The IMF noted that Chad's economy grew by an estimated 3.5% in 2024, a decrease from 5% in 2023. Further slowdown to 3.3% is projected for 2025. The financial program seeks to reduce Chad's deficit to an average of 1.5% of GDP over the next four years.
The agreement is pending approval from the IMF's executive board and the securing of necessary financing assurances. Chad's National Development Plan, named "Chad Connection 2030," includes reforms and projects following a political transition. The IMF highlights regional instability and declining oil prices as challenges to Chad's budgetary resources.