Madagascar: Third Review Under the Poverty Reduction and Growth Facility
IMF Staff Country Reports, July 3, 2003
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Bibliographic details
- Published: July 3, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451825305.002
Performance under the PRGF program
- Madagascar showed satisfactory performance under the Poverty Reduction and Growth Facility (PRGF) program.
- Executive Directors agreed that the crisis has undermined the timely achievement of the program, requiring the government to redouble its efforts.
- They welcomed the 2003 budget.
Key findings and issues
- Need to strengthen fiscal and monetary policies.
- Need to accelerate structural reforms.
- Problems of inefficiency and corruption in the public administration were identified and urged to be addressed.
- Emphasis on decisive implementation of the strategy to successfully complete the third review under the PRGF arrangement.
Policy recommendations
- Redouble government efforts to restore the program's timeline affected by the crisis.
- Strengthen fiscal policy frameworks and fiscal management.
- Reinforce monetary policy and central bank actions as needed.
- Accelerate structural reforms to support program objectives.
- Address inefficiency and corruption in public administration to improve program implementation and outcomes.
Source: Madagascar: Third Review Under the Poverty Reduction and Growth Facility, July 3, 2003.