IMF Executive Board reviews Chads poverty reduction strategy

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PR Newswire | 19 Jun, 2010
NDJAMENA (Chad): The Executive Board of the International Monetary Fund (IMF) discussed, on June 16, Chad's second Poverty Reduction Strategy Paper-entitled National Poverty Reduction Strategy (NPRS II)- and a Joint IMF/World Bank Staff Advisory Note.

Following the Executive Board's discussion, Mr. John Lipsky, First Deputy Managing Director and Acting Chair, made the following statement:

"The Chadian authorities have prepared a commendably frank and comprehensive second National Poverty Reduction Strategy (NPRS II) that draws on the lessons learned during the implementation of the first NPRS. The strategic focus is appropriately on restoring security, improving governance, achieving a greater diversification of the economy, strengthening institutional capacity, and promoting human development.

"The success of the NPRS II is contingent on a strengthened commitment to poverty reduction and good governance. This requires the government to focus on a manageable number of critical objectives and to monitor implementation closely, including by strengthening the national statistical capacity.

"Priorities include improving the business environment, notably security and governance; linking the NPRS II and the Medium-Term Expenditure Framework to improve the efficiency of public spending; providing funding for recurrent spending in health and education; and improving public financial management systems and practice. The authorities are also committed to implement the Extractive Industries Transparency Initiative to assist with oil revenue management, and improve non-oil revenue mobilization and expenditure management to protect priority spending and ensure the availability of adequate resources for development over the medium-term.

"Close engagement with the international community will help the authorities implement the objectives of the NPRS II," Mr. Lipsky added.