The International Monetary Fund approved in February 2026 the disbursement of $4.87 million to the Union of Comoros, under the fifth review of the Extended Credit Facility (ECF) — a four-year programme concluded in 2023 for a total of $43 million.
Performance Criteria Broadly Met
Of the five quantitative performance criteria to be met by June 2025, three were satisfied. On the qualitative side, 13 of the 15 planned structural benchmarks were also honoured. This result — while not perfect — validates the programme's continuity and opens the path to further disbursements.
Growth Expected at 4.1% in 2026
The IMF projects 4.1% growth for Comoros in 2026, after 3.8% in 2025. This trajectory is driven by public investment, domestic credit recovery and a gradual improvement in household conditions. For an archipelago emerging from several years of macro-economic fragility, these projections reflect genuine consolidation.
The IMF Programme's Key Axes
The ECF programme aims to «increase economic resilience by building fiscal buffers, reducing debt vulnerabilities» and strengthening the financial sector and governance. In practice, this translates into reforms of public expenditure management, tax revenue mobilisation and banking supervision — structural workstreams that Comoros is advancing cautiously but consistently.
Why It Matters
For the private sector and investors, IMF review validation is a macro-economic credibility signal. It facilitates access to concessional financing from other multilateral institutions and reduces perceived risk for commercial partners. For Comoros, staying on track with the IMF programme is a necessary — if not sufficient — condition for attracting the private investment the archipelago needs to accelerate its development.