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
December 10, 2004
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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.
Subject: Banking, Credit, Expenditure, Foreign exchange, Macrostructural analysis, Money, Poverty, Poverty reduction strategy, Structural reforms
Keywords: broad money, CR, Credit, criterion, debt relief, development goal, Global, government, implementation of the program, inflation front, ISCR, Poverty reduction strategy, PRGF arrangement, PRGF loan, Structural reforms
Pages:
77
Volume:
2004
DOI:
Issue:
404
Series:
Country Report No. 2004/404
Stock No:
1MDGEA0052004
ISBN:
9781451825336
ISSN:
1934-7685
