International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Jul 03, 2025

International Monetary Fund (IMF) Executive Board Completes the Second Reviews Under the Extended Credit Facility and the Resilience and Sustainability Facility Arrangements with the Republic of Madagascar

The current account deficit widened to 5.4 percent of GDP in 2024, due to continued weak performance in some mining subsectors; it is expected to widen further (to 6.1 percent of GDP) this year, amidst challenging prospects in the textile industry and the vanilla sector

The IMF Executive Board completed the Second Reviews under the Extended Credit Facility (ECF) arrangement and the Resilience and Sustainability Facility (RSF) arrangement for the Republic of Madagascar, allowing for an immediate disbursement of SDR 77.392 million (about US$107 million). Madagascar’s performance under the ECF and RSF has been satisfactory.…

Source: International Monetary Fund (IMF) | May 19, 2023

International Monetary Fund (IMF) and Madagascar Reach Staff-Level Agreement on the Fourth Review of the Extended Credit Facility Arrangement

The agreement is subject to approval by the IMF Management and Executive Board, with Board consideration expected in June

IMF team and the Malagasy authorities reached a staff-level agreement on the fourth review of Madagascar’s economic reform program under the Extended Credit Facility. This staff-level agreement is subject to IMF Management approval and consideration by the IMF Executive Board. Growth is expected to stabilize around 4.0 percent in 2023,…

Source: International Monetary Fund (IMF) | Mar 02, 2023

International Monetary Fund (IMF) Executive Board Completes the Third Review Under the Extended Credit Facility, Approves $32.6 Million Disbursement, and Concludes the 2022 Article IV Consultation with the Republic of Madagascar

In a context of lower global growth and high international prices, Madagascar’s growth is projected to stall at 4.2 percent in 2023 while annual average inflation would accelerate above 10 percent

The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] and completed the third review of the Extended Credit Facility (ECF) arrangement with the Republic of Madagascar. The completion of the review enables the disbursement of SDR 24.44 million (about US$32.6 million), usable for budget…

Source: International Monetary Fund (IMF) | Oct 26, 2021

IMF and Madagascar Reach Staff-Level Agreement on the First Review of the Extended Credit Facility

The review’s completion would allow the disbursement of SDR 48.88 million (about US$69 million) to Madagascar to cover external and fiscal financing needs

IMF team and the Malagasy authorities reached a staff-level agreement on the first review of Madagascar’s economic reform program under the Extended Credit Facility; Growth is gradually recovering, but the pandemic has increased poverty and the ongoing famine in the South is a major source of concern, requiring strong policy…

Source: International Monetary Fund (IMF) | Jul 30, 2020

Coronavirus - Madagascar: International Monetary Fund (IMF) Executive Board approves an additional US$171.9 million disbursement under the Rapid Credit Facility (RCF) to Madagascar to address the COVID-19 Pandemic

Madagascar’s macroeconomic outlook has been affected by weaker external demand, the increased spread of the pandemic, and significant losses of revenue

This is the second disbursement under the Rapid Credit Facility (RCF), which brings total IMF COVID-19 emergency support to the Republic of Madagascar to US$337.9 million; Madagascar’s macroeconomic outlook has been affected by weaker external demand, the increased spread of the pandemic, and significant losses of revenue; the additional resources under the…

Source: International Monetary Fund (IMF) | Apr 04, 2020

Coronavirus - Madagascar: International Monetary Fund (IMF) Executive Board approves a US$ 165.99 Million Disbursement to the Republic of Madagascar to address the COVID-19 Pandemic

To mitigate the shock of the pandemic, the government is taking appropriate immediate actions

The Executive Board of the International Monetary Fund (IMF) today approved a disbursement under the Rapid Credit Facility (RCF) equivalent to SDR 122.2 million (about US$ 165.99million at today’s US$/SDR exchange rate, or 50 percent of the quota) to help the country meet the urgent balance of payment needs stemming…