Republic of Madagascar: Second Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria-Press Release; and Staff Report
December 18, 2017
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This paper discusses Madagascar’s Second Review Under the Extended Credit Facility (ECF) Arrangement and Request for Modification of Performance Criteria (PC). Madagascar’s implementation of its economic program supported by the ECF has remained strong. All quantitative PCs and indicative targets were met at end-June 2017, and the program’s structural agenda is also advancing. The gradual economic recovery has continued, with solid growth and continued macroeconomic stability despite the drought and cyclone that affected Madagascar in early 2017. Fiscal performance has been roughly as planned, with strong revenue performance offsetting some unexpected spending pressures in 2017.
Subject: Banking, Budget planning and preparation, Credit, External position, Fiscal policy, Fiscal stance, Foreign assets, Money, Public financial management (PFM), Revenue administration
Keywords: Budget planning and preparation, CR, Credit, disbursement, disbursement of SDR, Fiscal stance, Foreign assets, IMF staff estimate, inflation Analysis and Forecasting, investment spending, ISCR, SDR equivalent
Pages:
84
Volume:
2017
DOI:
Issue:
385
Series:
Country Report No. 2017/385
Stock No:
1MDGEA2017004
ISBN:
9781484333891
ISSN:
1934-7685
