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

International Monetary Fund

No 2007/007, IMF Staff Country Reports from International Monetary Fund

Abstract: The staff report for the First Review Under the Three-Year Arrangement for the Republic of Madagascar reviews economic and financial policies. The 2007 economic program is designed to sustain growth, promote fiscal consolidation, and reduce poverty while keeping inflation to single digits and reducing the economy’s vulnerability to shocks. Central bank interventions will be limited to smoothing large variations in the exchange rate and meeting the program’s foreign reserve target. Planned spending reductions should offset any shortfall in revenues, which would allow the domestic financing target to be met.

Keywords: ISCR; CR; revenue target; authority; tax arrears; revenue shortfall; PRGF loan; staff appraisal; inflation objective; Budget planning and preparation; Tariffs; Africa; Southern Africa; Global (search for similar items in EconPapers)
Pages: 83
Date: 2007-01-08
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