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Africa > Madagascar, Republic of

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Cover IMF Staff Country Reports
Republic of Madagascar: Economic Development Document
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.
Keywords:
ISCR; CR; poverty rate; purchasing power; economic growth; private sector; per capita income; development framework; land tenure; poverty profile; energy security; air Madagascar; economic system; government securities market; asset recovery authority; financing requirement; Infrastructure; Poverty reduction; Sub-Saharan Africa
Cover IMF Staff Country Reports
République de Madagascar : demande de décaissement au titre de la facilité de crédit rapide; rapport des services du FMI; communiqué de presse et déclaration de l’administrateur pour la République de Madagascar
International Monetary Fund. African Dept.
Ce document porte sur la demande de décaissement au titre de la facilité de crédit rapide (FCR) présentée par Madagascar. Les autorités malgaches sont parvenues à éviter une crise macroéconomique pendant une période difficile marquée par une transition politique et des incertitudes économiques depuis 2009. Cependant, ces perturbations ont limité la croissance et les recettes budgétaires, ce qui s’est traduit par une forte compression de l’investissement public et des dépenses sociales. Les autorités sollicitent un décaissement au titre de la FCR. Elles considèrent en outre que la FCR est un tremplin pour un éventuel accord visant à s’attaquer aux problèmes à moyen terme de Madagascar et envoie un signal positif aux partenaires du développement. Les services du FMI appuient la demande des autorités en faveur d’un décaissement au titre de la FCR.
Keywords:
ISCR; CR; debt; government; RCF disbursement; RCF financing
Cover IMF Staff Country Reports
Republic of Madagascar: Request for Disbursement Under the Rapid Credit Facility
International Monetary Fund. African Dept.
This paper focuses on Madagascar’s Request for Disbursement Under the Rapid Credit Facility (RCF). The Malagasy authorities managed to avert a macroeconomic crisis during a difficult period of political transition and economic uncertainty since 2009. However, these disruptions have constrained growth and fiscal revenue, leading to a sharp compression of public investment and social outlays. The authorities are requesting a disbursement under the RCF. They also see the RCF as a stepping stone for a possible future arrangement addressing Madagascar’s medium-term challenges and as a positive signal to development partners. The IMF staff supports the authorities’ request for a disbursement under the RCF.
Keywords:
ISCR; CR; debt; government; RCF disbursement; RCF financing; reform strategy; customs revenue administration; Malagasy economy; Public and publicly-guaranteed external debt; Arrears; Southern Africa
Cover IMF Staff Country Reports
Republic of Madagascar: Poverty Reduction Strategy Paper: Annual Progress Report: Joint Staff Advisory Note
International Monetary Fund
This Joint Staff Advisory Note provides feedback from the World Bank and IMF staff on the first and second progress reports on the Madagascar Action Plan (MAP)—the poverty reduction and growth strategy for 2007–12. Progress on governance has been reported with improvements in the functioning of the national anticorruption agency (BIANCO), the establishment of a financial intelligence unit, and improved national security indicators. To further improve transparency, the government will need to make an effort to secure property rights through the judicial system or alternative conflict-resolution mechanisms.
Keywords:
ISCR; CR; monetary policy; fiscal policy; government; development partner; evolution; utility company; sterilization operation; private sector development; sound fiscal policy; Poverty reduction strategy; Budget planning and preparation; Africa
Cover IMF Staff Country Reports
République de Madagascar: Deuxième et troisième revues de l'accord triennal au titre de la facilité pour la réduction de la pauvreté et pour la croissance, demande de dérogation et demande de modification de critères de réalisation — Rapport des services du FMI; Déclaration des services du FMI; Communiqué de presse sur les travaux du Conseil d'administration; Déclaration de l'administrateur pour la République de Madagascar.
International Monetary Fund
Depuis plusieurs années, le FMI publie un nombre croissant de rapports et autres documents couvrant l'évolution et les tendances économiques et financières dans les pays membres. Chaque rapport, rédigé par une équipe des services du FMI à la suite d'entretiens avec des représentants des autorités, est publié avec l'accord du pays concerné.
Keywords:
ISCR; CR; customs revenue; staff appraisal; tax revenue collection; authority
Cover IMF Staff Country Reports
Republic of Madagascar: Second and Third Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver and Modification of Performance Criteria—Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Republic of Madagascar
International Monetary Fund
There has been progress in strengthening public financial management; however, improving budget execution and strengthening public finances is required. The tax and custom administration reforms will help bolster private sector-led growth and meet the ambitious revenue target to finance priority expenditure. Monetary and exchange rate policy is required to reduce inflation while preventing an overshooting of the exchange rate. Further progress is needed to foster financial sector development. A more ambitious rehabilitation plan for the electricity sector needs to be designed and implemented with urgency.
Keywords:
ISCR; CR; customs revenue; staff appraisal; tax revenue collection; authority; IMF staff representative; PRGF arrangement; Poverty reduction strategy; Monetary base; Imports; Southern Africa; Africa; Global; East Africa
Cover IMF Staff Country Reports
République de Madagascar: Consultation de 2007 au titre de l'article IV : rapport des services du FMI ; déclaration des services du FMI ; note d'information publique sur les délibérations du conseil d'administration ; et déclaration de l'administrateur pour la République de Madagascar
International Monetary Fund
Depuis plusieurs années, le FMI publie un nombre croissant de rapports et autres documents couvrant l'évolution et les tendances économiques et financières dans les pays membres. Chaque rapport, rédigé par une équipe des services du FMI à la suite d'entretiens avec des représentants des autorités, est publié avec l'accord du pays concerné.
Keywords:
ISCR; CR; foreign exchange inflow; authority; FDI; staff appraisal
Cover IMF Staff Country Reports
République de Madagascar: Note consultative conjointe du document de stratégie de réduction de la pauvreté
International Monetary Fund
Depuis plusieurs années, le FMI publie un nombre croissant de rapports et autres documents couvrant l'évolution et les tendances économiques et financières dans les pays membres. Chaque rapport, rédigé par une équipe des services du FMI à la suite d'entretiens avec des représentants des autorités, est publié avec l'accord du pays concerné.
Keywords:
ISCR; CR; government; MAP indicator; strategy; poverty reduction strategy paper; MAP objective
Cover IMF Staff Country Reports
Republic of Madagascar: Joint Staff Advisory Note of the Poverty Reduction Strategy Paper
International Monetary Fund
The Joint Staff Advisory Note on the Republic of Madagascar’s Poverty Reduction Strategy Paper (PRSP) is analyzed. The government of Madagascar has prepared its second growth and poverty reduction strategy called the Madagascar Action Plan (MAP), a bold development plan for 2007–12. The MAP builds on the first PRSP prepared in 2003 and is underpinned by a broad consultative process. It outlines the commitments, strategies, and actions that are expected to ignite rapid growth and lead to the reduction of poverty in line with the government’s national vision document.
Keywords:
ISCR; CR; government; MAP indicator; strategy; poverty reduction strategy paper; MAP objective; development objective; MAP's goal; strategy of extension; MAP place; MAP update; government of Madagascar; Poverty reduction strategy; Poverty reduction; Global
Cover IMF Staff Country Reports
Republic of Madagascar: 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussions; and Statement by the Executive Director for Republic of Madagascar
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; foreign exchange inflow; authority; FDI; staff appraisal