IMF Finances

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the Fund


Credit Outstanding

Projected Payments

IMF Members'
Financial Data by
Country


See Also:
Heavily Indebted Poor
Countries (HIPC)




Madagascar: Financial Position in the Fund
as of December 31, 2009

Summary of IMF members’ quota, reserve position, SDR holdings, outstanding credit, recent lending arrangements, projected payments due to the IMF, and monthly historical transactions with the Fund.

    I. Membership Status: Joined: September 25, 1963;Article VIII

  II. General Resources Account:SDR Million%Quota
       Quota122.20100.00
       Fund holdings of currency (Exchange Rate)122.1799.98
       Reserve Tranche Position0.030.02

III. SDR Department:SDR Million%Allocation
       Net cumulative allocation117.09100.00
       Holdings97.6983.44

 IV. Outstanding Purchases and Loans:SDR Million%Quota
      ECF Arrangements64.3852.68

  V. Latest Financial Arrangements:

Date ofExpirationAmount ApprovedAmount Drawn
TypeArrangementDate(SDR Million)(SDR Million)
      ECF 1/  Jul 21, 2006  Jul 20, 200973.32    53.03
      ECF 1/  Mar 01, 2001  Mar 01, 200591.65    91.65
      ECF 1/  Nov 27, 1996  Nov 30, 200081.36    78.68
 1/ Formerly PRGF.

VI. Projected Payments to Fund  2/
   (SDR Million; based on existing use of resources and present holdings of SDRs):
                                       Forthcoming                                      
         2010  2011  2012  2013  2014 
  Principal
1.132.274.636.9812.88
  Charges/Interest
0.370.360.340.310.26
   Total
1.512.634.977.3013.13
2/ When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.


VII. Implementation of HIPC Initiative:


Enhanced
 I.   Commitment of HIPC assistance
 Framework
       Decision point date
Dec 2000
       Assistance committed
       by all creditors (US$ Million) 1/
835.75
             Of which: IMF assistance (US$ million)
19.17
                    (SDR equivalent in millions)       
14.73
            Completion point date
  Oct 2004

 II.  Disbursement of IMF assistance (SDR Million)
       Assistance disbursed to the member
14.73
             Interim assistance
5.62
             Completion point balance
9.11
       Additional disbursement of interest income 2/
1.69
                  Total disbursements
16.42
1/ Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts can not be added.
2/ Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.

VIII. Implementation of Multilateral Debt Relief Initiative (MDRI):

    I.       MDRI-eligible debt (SDR Million)1/137.29
                  Financed by: MDRI Trust128.50
                  Remaining HIPC resources8.79

    II.       Debt Relief by Facility (SDR Million)
                                   Eligible Debt                                  
Delivery
Date

GRA

PRGT

Total
January 2006N/A137.29137.29

1/ The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of end-2004 that remains outstanding at the time the member qualifies for such debt relief.

IX. Implementation of Post-Catastrophe Debt Relief (PCDR):  Not Applicable
_________________
Decision point - point at which the IMF and the World Bank determine whether a country qualifies for assistance under the HIPC Initiative and decide on the amount of assistance to be committed.
Interim assistance - amount disbursed to a country during the period between decision and completion points, up to 20 percent annually and 60 percent in total of the assistance committed at the decision point (or 25 percent and 75 percent, respectively, in exceptional circumstances).
Completion point - point at which a country receives the remaining balance of its assistance committed at the decision point, together with an additional disbursement of interest income as defined in footnote 2 above. The timing of the completion point is linked to the implementation of pre-agreed key structural reforms (i.e., floating completion point).

Prepared by Finance Department

Disclaimer
The information provided is for your convenience and is not intended to replace other official IMF reports and statements.