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Africa > Madagascar, Republic of

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Cover IMF Staff Country Reports
Republic of Madagascar: Request for an Arrangement Under the Extended Credit Facility and Cancellation of the Current Arrangement Under the Extended Credit Facility and Request for an Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; Staff Supplement; Staff Statement; and Statement by the Executive Director for Republic of Madagascar
International Monetary Fund. African Dept.
This paper presents Republic of Madagascar’s Request for an Arrangement under the Extended Credit Facility (ECF) and Cancellation of the Current Arrangement under the ECF and Request for an Arrangement under the Resilience and Sustainability Facility (RSF). The RSF arrangement will underpin reforms to strengthen adaptation to climate change and resilience against natural disasters, support climate change mitigation efforts, enhance the protection of ecosystems, and create conditions for green private sector investment. Madagascar continues to face challenges, with economic growth easing in a context of weak fiscal performance and gradual reform progress. Going forward, climate change poses significant risks to Madagascar’s economy. The authorities are implementing measures to create fiscal space for much needed social spending and investment. These include medium-term revenue mobilization efforts through tax policy and revenue administration measures. Tackling climate change challenges will be critical for Madagascar’s medium-term macroeconomic resilience. The report suggests that the authorities should take full advantage of the support provided by the IMF and the World Bank through the Enhanced Cooperation Framework for Climate Action, and by other development partners to catalyze private climate financing.
Keywords:
Republic of Madagascar executive board meeting; staff appraisal; ECF arrangement; automatic fuel; RSF arrangement; Climate change; Debt sustainability; Global
Cover Policy Papers
Review of the Climate Macroeconomic Assessment Program Pilots
International Monetary Fund. Fiscal Affairs Dept.
and
International Monetary Fund. Strategy, Policy, & Review Department
This paper reviews the two Climate Macroeconomic Assessment Program (CMAP) pilots and proposes a way forward. It builds on the experience of the previous six Climate Change Policy Assessment (CCPA) pilots, and the recent rollout of the World Bank’s Country Climate and Development Report (CCDR). It also accounts for early experience with countries requesting support under the Fund’s Resilience and Sustainability Trust (RST). Based on the lessons from pilots and recent developments, staff proposes to streamline the CMAP to focus on the Fund’s comparative advantages in the areas of mitigation, PFM and macro-fiscal impact of climate change policies, provide a streamlined CMAP in exceptional circumstances, and expand more targeted CD in particular in support of RSF countries. This focused and tailored approach would benefit members as it is more agile, allows the Fund to serve more members within the same resource envelope and enhance synergies with other Fund products and the World Bank’s CCDR.
Keywords:
climate diagnostic assessment; resilience to climate change; climate risks; national climate strategies; mitigation; adaptation; PFM; disaster risk financing; macro-fiscal impact of climate change; CMAP; CCPA; CMAP pilot; climate policy ASSESSMENT tool; CMAP template; pilot country authorities; program pilot; Climate change; Climate policy; Climate finance; Global
Cover Selected Issues Papers
Food Insecurity and Climate Shocks in Madagascar: Republic of Madagascar
Dominique Fayad
Food insecurity dramatically increased in Madagascar over the last 10 years, hampering human development. Using most recent data and surveys conducted by UN Agencies and local authorities, this paper analyzes the root causes of food insecurity in Madagascar related to demographic vulnerabilities, multidimensional poverty, lack of education, as well as structural weaknesses in the food value chain and the lack of basic infrastructure, such as irrigation and transportation, that hamper agricultural activity development. Moreover, Madagascar is exposed to a large variety of climate shocks that climate change will likely exacerbate. This paper formulates country specific macroeconomic and operational policy recommendations in collaboration with the World Food Program to reduce food insecurity, which include i) measures to improve the emergency response and preparedness, ii) policies to address structural food insecurity, by improving the food chain and addressing challenges posed by climate shocks, and iii) measures to improve Green PFM and climate related public investment management to invest in long-term resilience and mobilize external financing.
Keywords:
Food Insecurity; Climate Change; Public Finance; Madagascar; food value chain; policy recommendation; value chain; climate change risk; food inflation; food consumption; Natural disasters; Food security; Global; Caribbean; Sub-Saharan Africa
Cover IMF Staff Country Reports
Republic of Madagascar: 2022 Article IV Consultation, Third Review Under The Extended Credit Facility Arrangement, and Requests for A Waiver of Nonobservance of Performance Criteria and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar
International Monetary Fund. African Dept.
This paper focuses on Republic of Madagascar’s 2022 Article IV Consultation, Third Review under the Extended Credit Facility Arrangement, and Requests for a Waiver of Nonobservance of Performance Criteria and Modification of Performance Criteria. Two years of pandemic and multiple climate shocks have aggravated Madagascar’s fragility. The outlook is highly uncertain with risks tilted to the downside. Madagascar continues to face risks associated with social fragility, weak state capacity, and climate shocks. While Madagascar’s economy rebounded faster than expected in 2021, growth is projected at 4.2 percent in 2022–2023. The authorities should further their efforts to enhance budget credibility and fiscal transparency. Recently adopted public financial management reforms are expected to contribute to better budget execution in 2023. Measures to enhance the legal framework for public procurement contracts would be welcome. Overall program performance is mixed. Despite some macroeconomic slippages, the implementation of structural reforms is gaining momentum. Improving governance and accelerating reforms to increase transparency and accountability are key to deliver higher and more inclusive growth.
Keywords:
fund assistance; government institution; Policy discussion; implementation support AFS PFM regulation; mining taxation reform; fund-supported program; financial support; Budget planning and preparation; Global; Africa
Cover IMF Staff Country Reports
Republic of Madagascar: 2022 Article IV Consultation, Third Review Under The Extended Credit Facility Arrangement, and Requests for A Waiver of Nonobservance of Performance Criteria and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar
International Monetary Fund. African Dept.
This paper focuses on Republic of Madagascar’s 2022 Article IV Consultation, Third Review under the Extended Credit Facility Arrangement, and Requests for a Waiver of Nonobservance of Performance Criteria and Modification of Performance Criteria. Two years of pandemic and multiple climate shocks have aggravated Madagascar’s fragility. The outlook is highly uncertain with risks tilted to the downside. Madagascar continues to face risks associated with social fragility, weak state capacity, and climate shocks. While Madagascar’s economy rebounded faster than expected in 2021, growth is projected at 4.2 percent in 2022–2023. The authorities should further their efforts to enhance budget credibility and fiscal transparency. Recently adopted public financial management reforms are expected to contribute to better budget execution in 2023. Measures to enhance the legal framework for public procurement contracts would be welcome. Overall program performance is mixed. Despite some macroeconomic slippages, the implementation of structural reforms is gaining momentum. Improving governance and accelerating reforms to increase transparency and accountability are key to deliver higher and more inclusive growth.
Keywords:
fund assistance; government institution; Policy discussion; implementation support AFS PFM regulation; mining taxation reform; fund-supported program; financial support; Budget planning and preparation; Global; Africa
Cover IMF Staff Country Reports
Republic of Madagascar: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper takes stock of developments in education, health, and social assistance and offers policy options in the Republic of Madagascar. The quality of education in Madagascar is falling with low school completion rates, a high share of untrained teachers, and declining test scores. Finding fiscal space to allocate more public resources to the education, health, and social protection sectors should be a key government priority. The resources currently budgeted for these sectors remain much lower than in other Sub-Saharan African countries and insufficient to improve development outcomes. Madagascar made some progress in improving access to primary education and basic health services, but the quality of the education system has deteriorated, significant human resource gaps remain in the health sector, and the poverty rate has increased. The paper recommends that in the area of social protection, identify clear and predictable funding sources with a view to gradually scale up existing social programs, while developing a national social registry to harmonize the social response among different interventions and actors and set a strong basis to gradually increase social assistance coverage of the vulnerable population.
Keywords:
policy recommendation; food value chain vulnerability; social spending; food inflation; education outcome; Climate change; Natural disasters; Food security; Sub-Saharan Africa; Global
Cover IMF Staff Country Reports
Republic of Madagascar: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper takes stock of developments in education, health, and social assistance and offers policy options in the Republic of Madagascar. The quality of education in Madagascar is falling with low school completion rates, a high share of untrained teachers, and declining test scores. Finding fiscal space to allocate more public resources to the education, health, and social protection sectors should be a key government priority. The resources currently budgeted for these sectors remain much lower than in other Sub-Saharan African countries and insufficient to improve development outcomes. Madagascar made some progress in improving access to primary education and basic health services, but the quality of the education system has deteriorated, significant human resource gaps remain in the health sector, and the poverty rate has increased. The paper recommends that in the area of social protection, identify clear and predictable funding sources with a view to gradually scale up existing social programs, while developing a national social registry to harmonize the social response among different interventions and actors and set a strong basis to gradually increase social assistance coverage of the vulnerable population.
Keywords:
policy recommendation; food value chain vulnerability; social spending; food inflation; education outcome; Climate change; Natural disasters; Food security; Sub-Saharan Africa; Global
Cover IMF Staff Country Reports
Republic of Madagascar: Technical Assistance Report-Climate Macroeconomic Assessment Program
International Monetary Fund. Fiscal Affairs Dept.
Madagascar is exposed to a multitude of climate hazards such as tropical cyclones, droughts, and floods, which cause significant damage to key sectors, thereby undermining development efforts. Madagascar continues to develop strategies and policies for addressing climate change, including commitments under the Nationally Determined Contribution, natural disaster risk management, adaptation measures, and ongoing public financial management and public investment management reforms. Resilience to climate shocks and natural disasters can only be achieved through a combination of climate measures, public investment efficiency measures and public investments in both human capital and resilient infrastructure.
Keywords:
risk assessment; mitigation goal; climate change Baseline; climate change concern; mainstream climate change; Climate change; Natural disasters; Infrastructure; Public investment spending; Sub-Saharan Africa; Global; Africa
Cover IMF Working Papers
How do Climate Shocks Affect the Impact of FDI, ODA and Remittances on Economic Growth?
Alassane Drabo
The three main financial inflows to developing countries have largely increased during the last two decades, despite the large debate in the literature regarding their effects on economic growth which is not yet clear-cut. An emerging literature investigates the dependence of their effects on some country characteristics such as human and physical capital constraint, macroeconomic policy and institutional capacity. This paper extends the literature by arguing that climate shocks may undermine the effect of Foreign Direct Investment (FDI), official development assistance (ODA) and migrants’ remittances on economic expansion. Based on neoclassical growth framework, the theoretical model indicates that FDI, ODA, and remittances improve economic growth, and the size of the effect increases with good absorptive capacity. However, climate shocks reduce this positive effect of financial flows in developing countries. Using a sample of low and middle-income countries from 1995 to 2018, the empirical investigation confirms the theoretical conclusions. Developing countries should build strong resilience to climate change. Actions are also needed at global level to reduce greenhouse gases emissions, and build strong structural resilience to climate shocks especially in developing countries.
Keywords:
inflows-economic growth nexus; effect of ODA; income group; role of Climate; effect of foreign direct investment; Climate change; Absorptive capacity; Foreign direct investment; Human capital; Middle East; East Asia; Asia and Pacific; North Africa; South Asia; Global
Cover IMF Staff Country Reports
Republic of Madagascar: Poverty Reduction Strategy Paper
International Monetary Fund
The Poverty Reduction Strategy Papers (PRSPs) on the Republic of Madagascar explain the Madagascar Action Plan (MAP) to accelerate and better coordinate the development process. The National Leadership Institute of Madagascar (NLIM) was created in 2006 to provide cutting-edge training to build leadership capacity at all levels of government and for all sectors of society. The Economic Development Board of Madagascar (EDBM) is charged with ensuring that the business climate of Madagascar is attractive for companies and conducive for the success of private enterprises.
Keywords:
ISCR; CR; private sector; value chain; economic growth; natural resources; public service; civil society; education system; primary education; vocational training; green revolution; Global; Sub-Saharan Africa