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Chad: Letter of Intent, Memorandum of Economic and Financial
Policies, and Technical Memorandum of Understanding
February 4, 2005
The following item is a Letter of Intent of the government of Chad, which
describes the policies that Chad intends to implement in the context of its request
for financial support from the IMF. The document, which is the property of
Chad, is being made available on the IMF website by agreement with the
member as a service to users of the IMF website.
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N’Djamena, February 4, 2005
Mr. Rodrigo de Rato
Managing Director
International Monetary Fund
Washington, D.C. 20431
Dear Mr. de Rato:
1. Over the past 10 years, the government of Chad has been implementing economic and
financial policies as well as structural reforms, all designed to strengthen Chad’s economic
and social fabric, to improve growth prospects, and reduce poverty. The government has
been supported in these efforts by the IMF through successive arrangements under the
Poverty Reduction and Growth Facility (PRGF), the most recent of which ended on
January 6, 2004.
2. The implementation of Fund-supported programs has enabled Chad to make real
progress in many economic areas. Nonetheless, as the ex post assessment of performance
under these programs revealed, Chad still has many challenges to address before it can
achieve a sustainable and lasting reduction in poverty.
3. As the petroleum era commences in Chad, one of the challenges facing the country is
to strengthen fiscal management, transparency, and governance to ensure that oil revenues
are well managed and can contribute to the achievement of the objectives set out in the
poverty reduction strategy adopted by the government in June 2003. This strategy underpins
the econom