Chad - Economic development

Foremost among governmental objectives are the expansion and improvement of the transportation and telecommunications network, the expansion and diversification of agriculture, and the attainment of food self-sufficiency. These goals were far from being met in 2003, but a steadily increasing trade balance reflects a growing economy. Petroleum reserves promise future rewards.

Net loans and grants from international financial institutions and UN organizations in 1994 totaled $109 million. Chad received a total of $238 million in economic aid in 1995, including $41 million from the World Bank, $13 million in concessional aid from the African Development Bank, and $6 million in concessional support from the International Monetary Fund (IMF). In 1997, Taiwan committed $125 million, and $30 million was given by the African Development Bank. Chad was $1.1 billion in debt in 2000.

In 2000, Chad negotiated a $48 million (subsequently augmented to $62 million) Poverty Reduction and Growth Facility (PRGF) with the IMF, which was due to expire in December 2003. In 2001, the IMF announced Chad qualified for debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. Chad expected to begin exporting oil in 2004, and the country aims to use its oil revenue to alleviate poverty. CotonTchad, the cotton parastatal, was being privatized in 2002.