Comoros - Country assistance strategy : interim support strategy
Barba Navaretti, Giorgio | Soloaga, Isidro
This Interim Support Strategy (ISS) reports on recent developments in Comoros, and proposes an interim Bank strategy during FY2001, a period in which the country's performance will be monitored, and assessed against specific benchmarks. Provided satisfactory performance, this ISS will be replaced by a full country assistance strategy. Comoros is just emerging from political instability, and weak governance, but the Government has promised elections for the near future, despite remaining uncertainties. The economy is still depressed, with real GNP per capita declining since 1995, while poverty incidence increases. Basic public obligations are difficult to fulfill, which include timely payments to teachers, health workers, and civil servants, as well as servicing debt regularly, and, serious cash flow problems, hinder future public expenditures. The report stipulates that Comoros is currently in a "base case" scenario, likely to remain so, provided a socioeconomic environment is suitable for development work, satisfactory portfolio performance is maintained, and, progress towards decentralization is made. Lending would only include an Infrastructure and Decentralization Project, with non-lending assistance being provided to define development as viewed by Comoros, which include the preparation of an Institutional Development Fund grant for institutional capacity building.
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