Republic of Madagascar: Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Waiver of Nonobservance of Performance Criteria, and Modification of Performance Criteria

International Monetary Fund

No 2004/404, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper examines Madagascar’s Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, and Requests for Waiver of Nonobservance of Performance Criteria. Madagascar’s performance under the program was broadly satisfactory, taking into account the impact of the exogenous shocks and corrective actions taken by the authorities. Efforts to bring tax revenue and net foreign assets—the two indicative targets missed at end-June—back on track over the summer were successful. Progress was also made in structural reform, although with some delays.

Keywords: ISCR; CR; government; PRGF arrangement; development goal; criterion; PRGF loan; implementation of the program; inflation front; debt relief; broad money; Poverty reduction strategy; Credit; Structural reforms; Global (search for similar items in EconPapers)
Pages: 77
Date: 2004-12-10
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