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International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

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,…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

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…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

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…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

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…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

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…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2019 Article IV and Program Review Mission to Madagascar

An International Monetary Fund (IMF) mission led by Charalambos Tsangarides, mission chief for Madagascar, visited Antananarivo from November 11 to 25

IMF staff and the authorities reached staff-level agreement for the sixth program review, subject to approval by IMF management and the Executive Board; The implementation of the authorities’ program supported by the Extended Credit Facility (ECF) arrangement has remained satisfactory; The authorities’ plan to increase public investment and social spending…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

Madagascar Implements the International Monetary Fund’s Enhanced General Data Dissemination System

These data will be disseminated in both human- and machine-readable formats

Madagascar has implemented the recommendations of the IMF’s Enhanced General Data Dissemination System (e-GDDS) by publishing critical data through the National Summary Data Page (NSDP). The page aims to serve as a one-stop publication vehicle for essential macroeconomic data on the national accounts, government operations and debt, monetary and financial…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Reviews Progress of Madagascar’s Economic Program

Growth is projected to accelerate to 5.0 percent in 2018, led by rising public investment, continued growth in manufacturing, a rebound in agriculture and a recovery in the mining sector

Performance under the ECF-supported program is positive overall. Economic growth is projected at 5.0 percent in 2018, and prudent monetary policy is helping to contain inflation. Scaling-up public investment, accelerating reforms at JIRAMA, and passing laws to strengthen governance are key to advance program priorities. A team from the International…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

IMF Executive Board Completes Second Review Under the Extended Credit Facility Arrangement for Madagascar and Approves US$44.5 Million Disbursement

The 2018 budget supports the program’s core objective of strong and inclusive growth

Madagascar’s implementation of its economic program supported by the ECF has remained strong. The economic recovery has continued with solid growth and continued macroeconomic stability.   The 2018 budget supports the program’s core objective of strong and inclusive growth. On December 6, 2017, the Executive Board of the International Monetary Fund…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

IMF Staff Completes Mission to Review Progress of Madagascar’s Economic Program

Performance under the ECF-supported program remains strong

Economic growth is projected at 4.1 percent in 2017. Performance under the ECF-supported program remains strong. Prudent monetary policy has helped to contain inflation. A team from the International Monetary Fund (IMF) led by Marshall Mills, Mission Chief for Madagascar, visited Antananarivo from September 7–21, 2017 to hold discussions on…