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Chad’s economic situation
Chad has gained stability and peace and it is decided to reactivate
its economy and its development. Its optimist spirit is justified on
the one hand by the initiative taken by the Chadian government, and
on the other hand by the existence of huge, yet to be explored,
natural resources.
The
country trumps with various assets, such as the inexhaustible salt
and copper mines, and as an important turning point for the
commercial trans-Saharan routes. The discovery of crude oil
deposits, which are exploited in the country’s south are promising,
and they immensely impact Chad’s future development.
The
regained political stability allowed Chad to conclude agreements
with a consortium of oil companies which invested 3.7 billion US
dollars in order to develop the crude oil deposits of the region of
Doba, to construct the pipeline between Chad and Cameroun, and the
oil terminal of Kribi, on the Atlantic coast. The crude oil
composite of Doba and the infrastructures associated with it have
been effectuated in record time. From now on, Chad is part of the
world’s crude oil exporting countries.
The
exploitation of crude oil in the south of the country and the
revenues generated from its exportation will contribute to the
establishment of political sectors and help reactive Chad’s economy.
Since the beginning of the economy reform program, the economic
situation of the country has truly improved. The real economic
growth rate was 11 per cent in 2004. The Chadian government is keen
on eliminating the obstacles that hindered economic growth in the
past: it liberalized its economy and instigated a code of
investment, which is very favourable, and Chad has been able to tie
up with Bretton Woods institutions by negotiating financial deals,
which have been approuved by the IMF and the World Bank.
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