• The IMF approved a $4.87 million disbursement to Comoros following the fifth review of its Extended Credit Facility (ECF) program.
• The four-year ECF arrangement, approved in June 2023, totals $43 million and supports fiscal and structural reforms.
• The IMF projects economic growth of 3.8% in 2025 and 4.1% in 2026, driven by public investment and a recovery in domestic credit.

The International Monetary Fund approved a $4.87 million disbursement to Comoros after completing the fifth review of the country’s Extended Credit Facility (ECF) arrangement, the institution said in a statement published on Wednesday, Feb. 11, 2026.

The disbursement forms part of a four-year, $43 million ECF agreement that the IMF approved in June 2023. The program supports an economic reform agenda that aims to strengthen resilience by building fiscal buffers, reducing debt vulnerabilities, reinforcing the financial sector and improving governance.

Following the program review, the IMF approved the Comorian authorities’ requests for waivers related to the non-observance of certain quantitative performance criteria at end-June 2025. These criteria included the domestic primary balance target and the continuous performance criterion on the non-accumulation of external arrears.

The IMF stated that authorities met three of the five quantitative performance criteria at end-June 2025. The Fund added that authorities met 13 of the 15 structural benchmarks scheduled between end-June and end-December 2025.

Overall, the IMF described economic activity in the archipelago as broadly stable, although risks persist. The institution estimated growth at 3.8% in 2025 and projected growth to reach 4.1% in 2026, supported by public investment and a recovery in domestic credit.

Despite progress toward program objectives, the IMF said authorities must sustain significant and continuous reform efforts to maintain momentum.

Ingrid Haffiny (Intern)