International Monetary Fund (IMF) / Press Release

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…

Source: International Monetary Fund (IMF) | Nov 25, 2019

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…

Source: International Monetary Fund (IMF) | May 16, 2019

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…

Source: International Monetary Fund (IMF) | Mar 28, 2018

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…

Source: International Monetary Fund (IMF) | Dec 07, 2017

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…

Source: International Monetary Fund (IMF) | Sep 22, 2017

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…

Source: International Monetary Fund (IMF) | Jun 29, 2017

IMF Executive Board Completes First Review under the ECF Arrangement, Increases Access, Approves US$86 Million Disbursement, and Concludes 2017 Article IV Consultation with Madagascar

Madagascar’s performance under its economic program supported by the Extended Credit Facility (ECF) has been strong

The program’s success hinges on building investment management capacity while safeguarding macroeconomic stability and debt sustainability. Reforms underway to promote the development and soundness of the financial sector, based on the 2016 Financial Sector Assessment Program, will contribute to a more inclusive and robust financial system that is responsive to…

Source: International Monetary Fund (IMF) | Mar 23, 2017

IMF Staff Completes Mission to Madagascar for 2017 Article IV and First ECF Review

A team from the International Monetary Fund (IMF) led by Marshall Mills, Mission Chief for Madagascar, visited Antananarivo from March 9–22, 2017 to conduct the 2017 Article IV Consultation and hold discussions on the first review of Madagascar’s economic reform program supported by the IMF’s three-year Extended Credit Facility (ECF)

Madagascar’s recent economic performance has been encouraging, with GDP growth reaching 4.2 percent in 2016 In the medium-term, the authorities aim to break Madagascar’s pattern of low growth by scaling up priority spending and accelerating structural reform. The authorities continue to make progress in strengthening the legal and institutional framework…

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