Republic of Madagascar: Request for a 40-Month Arrangement under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar
IMF Staff Country Reports, April 9, 2021
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- Republic of Madagascar: Request for a 40-Month Arrangement under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar
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Bibliographic details
- Published: April 9, 2021
- Series: IMF Staff Country Reports
Economic impact of COVID-19
- GDP is estimated to have contracted by 4.2 percent in 2020.
- The pandemic reversed recent progress in per capita income and poverty reduction.
Emergency financing and short-term support
- Two RCF disbursements approved on April 3 and July 30 totaling 2.4 percent of GDP.
- These disbursements helped close short-term financing gaps, supported mitigation measures, and contributed to catalyzing donor budget support.
Request for renewed IMF assistance
- The authorities are seeking renewed Fund assistance to address protracted balance of payment needs aggravated by the impact of the pandemic.
- Requested support is to help implement the authorities’ reform agenda summarized in the Plan Emergence Madagascar (PEM).
Thematic focus and keywords
- Subject areas: COVID-19, Credit, External debt, Health, International organization, Monetary policy, Money, Public debt, Revenue administration.
- Keywords highlighted: COVID-19, Credit, ECF arrangement, financing gap, financing needs, frontloaded disbursement, Global, reform strategy.
Republic of Madagascar: Request for a 40-Month Arrangement under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar, April 9, 2021.
Content in this bundle
- 1mdgea2021001