Republic of Madagascar: Request for Disbursement Under the Rapid Credit Facility
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Summary:
This paper focuses on Madagascar’s Request for Disbursement Under the Rapid Credit Facility (RCF). The Malagasy authorities managed to avert a macroeconomic crisis during a difficult period of political transition and economic uncertainty since 2009. However, these disruptions have constrained growth and fiscal revenue, leading to a sharp compression of public investment and social outlays. The authorities are requesting a disbursement under the RCF. They also see the RCF as a stepping stone for a possible future arrangement addressing Madagascar’s medium-term challenges and as a positive signal to development partners. The IMF staff supports the authorities’ request for a disbursement under the RCF.
Series:
Country Report No. 2014/181
Subject:
Arrears External debt Public and publicly-guaranteed external debt Public debt Revenue administration
Notes:
English
Publication Date:
July 2, 2014
ISBN/ISSN:
9781498333832/1934-7685
Stock No:
1MDGEA2014001
Pages:
61
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