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Africa > Madagascar, Republic of

You are looking at 1 - 7 of 7 items for :

  • Type: Journal Issue x
  • Institutions and the Macroeconomy x
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Cover Policy Papers
Implementation Plan in Response to The Board - Endorsed Recommendations from The IEO Evaluation Report on Growth and Adjustment in IMF - Supported Programs
International Monetary Fund. Strategy, Policy, & Review Department
This management implementation plan (MIP) proposes actions in response to the Independent Evaluation Office (IEO)’s report on growth and adjustment in IMF-supported programs. The full implementation of the MIP package will help ensure that, at a time when many countries face strong headwinds, IMF-supported programs not only deliver necessary adjustment to address balance of payments needs but also pay greater attention to their growth effects. While the policy-related deliverables are already incorporated into current departmental work plans and budgets, the operational implementation of these recommendations may require mobilizing additional resources.
Keywords:
IEO recommendation; IEO evaluation; financing envelope; IEO report; implementation plan; Structural reforms; Training and development in revenue administration; Fiscal multipliers; Fiscal consolidation; Contingency planning; Sub-Saharan Africa; Global
Cover IMF Staff Country Reports
Republic of Madagascar: Ex Post Assessment of Longer-Term Program Engagement
International Monetary Fund
This paper discusses key findings of the Ex Post Assessment of Longer-Term Program Engagement for Madagascar. The paper focuses on performance during the programs supported by the 1989 and 1996 Enhanced Structural Adjustment Facility programs, and the 2001 Poverty Reduction and Growth Facility. Despite nearly continuous involvement by the IMF, other international financial institutions, and bilateral donors, economic progress has been slow. Only the most recent years have witnessed inroads into poverty reduction of some significance. However, the country’s growth base remains narrow, and its institutional framework and governance weak.
Keywords:
ISCR; CR; exchange rate; economic growth; reform effort; government ownership; implementation capacity; banking system; macroeconomic policy; Structural reforms; Civil service reform; Poverty reduction; Sub-Saharan Africa
Cover IMF Staff Country Reports
Republic of Madagascar: Staff Report for the 2005 Article IV Consultation
International Monetary Fund
This 2005 Article IV Consultation highlights that macroeconomic developments in Madagascar in 2003 and 2004 were dominated by the sharp depreciation of the national currency, and rising inflation pressures, with year-over-year consumer price inflation reaching 30 percent at end-February 2005. At the same time, the current account deficit widened considerably in 2004. In the medium term, real GDP growth is expected to average 6 percent per year, and fiscal consolidation is projected to continue, driven by an improvement of revenue performance and modest expenditure increases.
Keywords:
ISCR; CR; authority; policy; plan; program ownership; Malagasy authorities; revenue performance; authorities consent; policy slippage; revenue-to-GDP ratio; donor assistance; revenue-enhancing policy; Credit; Exports; Southern Africa
Cover IMF Staff Country Reports
Republic of Madagascar: Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility
International Monetary Fund
This paper examines Madagascar’s Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). Madagascar’s performance under the program in 2004 has been broadly satisfactory, particularly in light of the difficult economic environment that prevailed during the first half of the year. All quantitative performance criteria at end-September and the structural performance criterion at end-December have been met. Further steps are needed to strengthen monetary policy implementation. Implementation of public enterprise reform, which has been uneven, also needs to be accelerated.
Keywords:
ISCR; CR; monetary policy; credit policy; PRGF arrangement; authority; monetary policy implementation; PRGF loan; policy implementation; Credit; Structural reforms; Poverty reduction strategy; Global
Cover IMF Staff Country Reports
Republic of Madagascar: Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Waiver of Nonobservance of Performance Criteria, and Modification of Performance Criteria
International Monetary Fund
This paper examines Madagascar’s Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, and Requests for Waiver of Nonobservance of Performance Criteria. Madagascar’s performance under the program was broadly satisfactory, taking into account the impact of the exogenous shocks and corrective actions taken by the authorities. Efforts to bring tax revenue and net foreign assets—the two indicative targets missed at end-June—back on track over the summer were successful. Progress was also made in structural reform, although with some delays.
Keywords:
ISCR; CR; government; PRGF arrangement; development goal; criterion; PRGF loan; implementation of the program; inflation front; debt relief; broad money; Poverty reduction strategy; Credit; Structural reforms; Global
Cover IMF Staff Country Reports
Madagascar: Staff Report for the 2002 Article IV Consultation, Second Review Under the Poverty Reduction and Growth Facility, and Requests for Extension of Arrangement, Waiver of Performance Criteria, and for Interim Assistance under the Enhanced Initiative for Heavily Indebted Poor Countries
International Monetary Fund
This paper examines Madagascar’s 2002 Article IV Consultation, Second Review Under the Poverty Reduction and Growth Facility (PRGF), and Requests for Extension of Arrangement. Madagascar’s performance under the PRGF-supported program in 2001 was strong, with the exception of weak revenue collection, an issue that the new government has begun to address. The budget for 2003 is consistent with the macroeconomic constraints, and places an appropriate emphasis on revenue mobilization and on wage restraint. Administrative procedures need to be streamlined to ensure faster expenditure commitment and execution of donor-funded projects.
Keywords:
ISCR; CR; poverty reduction strategy paper; authority; financing; PRGF arrangement; poverty alleviation effort; PRGF loan; expenditure prioritization; Structural reforms; Credit; Debt relief; Exports; Southern Africa; East Africa
Cover IMF Survey
IMF Survey: Volume 28, Issue 15
International Monetary Fund. External Relations Dept.
In a press release issued on July 28, the IMF announced it has approved a 17-month Stand-By credit for Russia equivalent to SDR 3.3 billion (about $4.5 billion) to support the government’s 1999–2000 economic program. There will be seven equal disbursements of SDR 471.4 million (about $640 million), with the first installment to be released immediately. Subsequent installments will depend on quarterly reviews being completed and performance criteria and structural benchmarks beingmet. At the conclusion of the IMF Executive Board meeting, IMF First Deputy Managing Director Stanley Fischer made the following statement.
Keywords:
SV; IMF's website; recommendations of the IMF; IMF staff country report; IMF publications catalog; IMF survey; IMF staff country; IMF Office of internal audit; Structural reforms; Poverty reduction and development; Poverty reduction; Debt relief; Financial sector reform; Asia and Pacific; Global; Europe; Baltics; Africa; Caribbean