At the conclusion, the head of the mission Mr Harry Trines, issued the following statement: ‘The mission has reached staff-level understandings with the authorities on policies for completing the fifth ECF review. Consideration by the IMF’s executive board of the review is tentatively scheduled for May, following approval by management of the IMF. Completion of this review will enable Comoros to receive a disbursement of USD3.45 million from the IMF … Performance under the programme has been satisfactory. All the quantitative targets for end-December 2012 were met, as were four of the five structural benchmarks under the programme.
However, Mr Trines went on to say that more needed to be done to help the country to meet its medium-term goals. ‘The mission discussed with the government the economic prospects for the coming year, revisions to the 2013 budget to reorient spending toward priority areas, and structural reform measures needed to achieve the government’s medium-term objectives. Areas of focus included the implementation of the organisational frameworks for the public administration, continued improvement in banking supervision, privatisation of Comores Telecom, and reforms of the public utility (MAMWE) and Societe Comorienne des Hydrocarbures,’ he said.