Republic of Madagascar: Request for a 40-Month Arrangement under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar

International Monetary Fund

No 2021/075, IMF Staff Country Reports from International Monetary Fund

Abstract: The COVID-19 pandemic has hit Madagascar hard, reversing recent progress in per capita income and poverty reduction. GDP is estimated to have contracted by 4.2 percent in 2020. Two RCF disbursements approved on April 3 and July 30 (totaling 2.4 percent of GDP) helped close short-term financing gaps, supported mitigation measures, and contributed to catalyzing donor budget support. The authorities are seeking renewed Fund assistance to help the country face protracted balance of payment needs aggravated by the impact of the pandemic and support the authorities’ reform agenda summarized in the Plan Emergence Madagascar (PEM).

Keywords: ECF arrangement; financing gap; reform strategy; financing needs; frontloaded disbursement; COVID-19; Credit; Global (search for similar items in EconPapers)
Pages: 129
Date: 2021-04-09
New Economics Papers: this item is included in nep-mac
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