## 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

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### 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.*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/madagascar-third-review-under-the-poverty-reduction-and-growth-facility-16706_