Republic of Madagascar: Request for an Arrangement Under the Extended Credit Facility: First Review Under the Staff Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar

Author: International Monetary Fund. African Dept.

Volume/Issue: Volume 2016 Issue 273

Publication date: August 2016

ISBN: 9781475525014

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Taxation - General , ISCR , CR , tariff increase , electricity tariff , asset declaration , Madagascar's terms of trade , priority spending , Credit , Tax administration core functions , Southern Africa , East Africa , Europe , Sub-Saharan Africa , Global

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Summary

This paper discusses the Republic of Madagascar’s request for an arrangement under the Extended Credit Facility (ECF) and first review under the Staff Monitored Program (SMP). Madagascar’s macroeconomic performance was broadly satisfactory under the SMP, which ran from September 2015 to the end of March 2016. The authorities’ ECF-supported program, anchored on their National Development Plan, aims to reinforce macroeconomic stability and promote sustainable and inclusive growth. It focuses on promoting robust and inclusive growth, combining improved access to education, health care, and social protection with infrastructure and private sector development. The IMF staff supports the authorities’ request for an ECF.