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
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The COVID-19 pandemic has hit Madagascar hard, reversing recent progress in per capita income and poverty reduction. GDP is estimated to have contracted by 4.2 percent in 2020. Two RCF disbursements approved on April 3 and July 30 (totaling 2.4 percent of GDP) helped close short-term financing gaps, supported mitigation measures, and contributed to catalyzing donor budget support. The authorities are seeking renewed Fund assistance to help the country face protracted balance of payment needs aggravated by the impact of the pandemic and support the authorities’ reform agenda summarized in the Plan Emergence Madagascar (PEM).
Subject: COVID-19, Credit, External debt, Health, International organization, Monetary policy, Money, Public debt, Revenue administration
Keywords: COVID-19, Credit, ECF arrangement, financing gap, financing needs, frontloaded disbursement, Global, reform strategy
Pages:
129
Volume:
2021
DOI:
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Issue:
075
Series:
Country Report No. 2021/075
Stock No:
1MDGEA2021001
ISBN:
9781513576794
ISSN:
1934-7685
