The International Monetary Fund published an end-of-mission statement reporting a staff-level agreement with the Union of the Comoros on economic policies and reforms for the fifth review under its four-year Extended Credit Facility programme, alongside 2025 Article IV consultation discussions. Subject to approval by IMF management and the Executive Board, completing the review would make available SDR 3.56 million (about USD 4.87 million), bringing total disbursements under the arrangement to about USD 28.57 million. Programme performance improved relative to the fourth review, with three out of five quantitative targets for end-June 2025 met and thirteen out of fifteen structural benchmarks due between end-June and end-December 2025 completed. Despite strong tax revenue performance in the first half of 2025, unbudgeted social transfers and faster execution of domestically financed capital spending widened the domestic primary deficit by 0.2 percentage points of GDP versus the end-June 2025 target, while liquidity and cash-management challenges led to small, temporary external arrears that have since been cleared. The statement noted stronger activity in the first three quarters of 2025, with inflation falling from a peak of 7.3 percent year on year in March to 1.9 percent in October, and an external position supported by remittances and reserves covering around seven months of imports, alongside persistent financial sector vulnerabilities. IMF staff indicated they will prepare a report, subject to management approval, for the Executive Board’s discussion and decision.

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