Republic of Madagascar : 2019 Article IV Consultation and Sixth Review Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. African Dept.

Series:

IMF Staff Country Reports; Country Report ; No. 2020/060

IMF Staff Country Reports

Language:

English

Subjects (All):

Banks and banking.

Monetary policy.

Mortgages.

Physical Description:

1 online resource (149 pages).

Other Title:

Republic of Madagascar

Place of Publication:

Washington, D.C. : International Monetary Fund, 2020.

Summary:

This paper presents 2019 Article IV Consultation with the Republic of Madagascar and its Sixth Review Under the Extended Credit Facility (ECF) Arrangement. Madagascar’s performance under its economic program supported by the ECF arrangement has been broadly satisfactory with solid growth, moderate single digit inflation, and a robust external position. As a fragile, low-income country, Madagascar continues to face risks associated with weak implementation capacity, potential fiscal slippages, social fragility in a context of widespread poverty, and vulnerability to exogenous shocks including to terms of trade and natural disasters. Going forward, a commitment to strong policies and an ambitious agenda to complete outstanding structural reforms remains crucial to mitigate internal and external risks, strengthen macroeconomic stability, and achieve higher, sustainable, and inclusive growth. The authorities’ economic reform agenda summarized in the Plan Emergence Madagascar aims to raise economic growth through increased public and private investment, strengthening human capital, and improving governance. Creating additional fiscal space by further improving revenue mobilization through a medium-term tax revenue strategy, containing lower priority spending, and enhancing investment implementation capacity is essential for scaling-up priority investment and social spending in education, health, and housing.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9781513534947

1513534947