International Monetary Fund staff say they have made “significant progress” toward a staff-level agreement with Chad following discussions on the first and second reviews of the country’s Extended Credit Facility (ECF), as talks on fiscal reforms and economic stability continue virtually in the coming days.
The assessment was issued at the end of a mission led by IMF mission chief Julien Reynaud, who visited the Chadian capital N’Djamena from May 4 to May 15, 2026, for consultations with authorities and stakeholders on the implementation of the programme.
In a statement released Wednesday, Reynaud said the mission had advanced discussions toward an agreement but stopped short of confirming a final deal.
“The delegation has made significant progress toward reaching a staff-level agreement on the first and second review of the ECF with Chad,” he said. “We thank the authorities for their warm welcome and the quality of the exchanges. Discussions will continue virtually in the coming days.”
The Extended Credit Facility is the IMF’s main concessional lending instrument for low-income countries facing balance-of-payments pressures, typically tied to reforms aimed at strengthening fiscal discipline, improving governance and supporting macroeconomic stability.
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Chad, a landlocked Sahel country, has been under an IMF-supported programme as it seeks to stabilise public finances amid pressures from security spending, oil revenue volatility and development financing needs.
During the mission, IMF officials held meetings with senior government figures, including Minister of State for Finance, Budget, Economy, Planning and International Cooperation Tahir Hamid Nguilin, and Minister of Mining, Oil and Geology Fatima Haram Acyl.
Other officials involved in the discussions included Secretary of State for Finance and Budget Ali Djadda Kampard, as well as representatives of the Bank of Central African States (BEAC), the Inspectorate General of Finance, the Independent Anti-Corruption Authority and the national statistical institute INSEED.
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The delegation also engaged with the National Financial Investigation Agency and the Public Procurement Regulatory Authority, reflecting the IMF’s continued focus on governance, transparency and anti-corruption measures as part of programme conditionality.
Reynaud said discussions were “productive” and extended beyond government institutions to include consultations with United Nations agencies and private sector representatives operating in the country.
The IMF statement did not provide details on specific reform benchmarks under review, nor did it outline outstanding issues that must be resolved before a staff-level agreement can be finalised and forwarded to the IMF Executive Board for approval.
Such agreements are a key step in the IMF lending process, signalling that programme implementation is broadly on track and unlocking access to further disbursements once formally endorsed by the Board.
Chad’s economy remains heavily dependent on oil exports, leaving it exposed to global price fluctuations. At the same time, the government has been attempting to expand non-oil revenues, improve public financial management and strengthen oversight of public procurement.
The IMF has in recent years emphasised the importance of governance reforms in Chad, particularly in revenue collection and anti-corruption enforcement, as part of broader efforts to improve fiscal sustainability.
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Further virtual discussions between IMF staff and Chadian authorities are expected in the coming days, with both sides working toward finalising the review process.
If an agreement is reached at staff level, it would pave the way for consideration by the IMF Executive Board in Washington, D.C., which has the final authority to approve programme reviews and associated funding disbursements.
For now, both sides have indicated cautious optimism, while acknowledging that additional technical work remains before a formal agreement can be concluded.
