Africa > Madagascar, Republic of

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International Monetary Fund. African Dept.
This Selected Issues paper surveys the economic costs of corruption in Madagascar, and provides a few ideas on how to advance anticorruption reforms. Madagascar’s governance indicators weakened significantly during the transition period 2009–13. Governance indicators that generally were on par with middle-income countries in Sub-Saharan Africa (SSA) ten years ago have regressed and converged to the average of fragile SSA countries. After the return of constitutional order in 2014, the government has started to address corruption, mainly through the introduction of new laws so far. More emphasis is needed on effective implementation and raising sufficient resources to fight corruption.
International Monetary Fund. African Dept.
This Economic Development Document describes the strategy adopted by the government of Madagascar to reverse the trend of modest economic performance, deteriorating social conditions, and persistent poverty observed in recent years. This strategy addresses the underlying causes of poverty. The primary aim of the fiscal policy is to increase revenue and rationalize budget expenditure to provide ample margins to finance priority spending, specifically social and infrastructure spending. The priorities are to expand the tax base and continuing reform of tax and customs administration, and to eliminate the causes of inefficient public expenditure. The monetary policy is given the role of regulating domestic liquidity to normalize trends in economic activities and achieve the inflation targets of less than 10.0 percent.
International Monetary Fund
This report provides a summary of the Antimoney Laundering and Combating the Financing of Terrorism (AML/CFT) measures in effect in the Union of the Comoros on the date of or shortly after the onsite visit. It describes and analyzes these measures, indicates the level of the Union of the Comoros’s compliance with the 40 + 9 Financial Action Task Force (FATF) Recommendations, and makes recommendations on measures to be taken to strengthen certain aspects of the system. The authorities agreed with the mission that the Comoros is a potential transit point for international terrorism.
International Monetary Fund
A detailed assessment report on Anti-Money Laundering and Combating the Financing of Terrorism for Mauritius is discussed. Mauritius is well placed to capitalize on its national strategy to diversify its economy into global financial services by taking advantage of its linkages with both African and long-standing arrangements with the larger Asian economies. Additionally, Mauritius intends to offer new products in Islamic financial services and wealth management. The investigative and prosecutorial authorities have the necessary powers to execute their respective functions.