Republic of Madagascar: Second Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar

September 23, 2022

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Summary

Madagascar has not yet recovered from the pandemic and is struggling with the aftermath of a severe cyclone season and the fallout of Russia’s war in Ukraine. After a sharp contraction of GDP in 2020 (-7.1 percent) and a modest recovery in 2021 (4.3 percent), growth is projected to stall in 2022. Lower demand from trading partners, higher fuel and food prices, and recent weather events are weighing on economic activity and leading to widening fiscal and external deficits in the short term.

Subject: Budget planning and preparation, Credit, Fiscal policy, Fiscal stance, International organization, Monetary policy, Money, Public debt, Public financial management (PFM), Revenue administration

Keywords: Budget planning and preparation, budget transparency, Credit, Fiscal stance, Global, governance reform agenda, IMF team, liabilities vis-à-vis fuel distributor, spending commitment authorization process, Sub-Saharan Africa, transparency policy

Pages:
97
Volume:
2022
DOI:
https://doi.org/10.5089/9798400223396.002
Issue:
316
Series:
Country Report No. 2022/316
Stock No:
1MDGEA2022003
ISBN:
9798400223396
ISSN:
1934-7685

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