Statement by the Staff Representative on Madagascar Executive Board Meeting July 11, 2018

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

Abstract

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

This statement contains information that has become available since the staff report (www.imf.org) was issued on June 26, 2018. It does not alter the thrust of the staff appraisal.

1. The supplementary budget law submitted to parliament on May 25, 2018 was approved without modification by parliament on June 29, 2018. It is in line with the authorities’ policy commitments laid out in the staff report and consistent with the performance criteria and indicative targets of the ECF arrangement for the rest of 2018.

2. The presidential election dates have been officially announced: the first round will be held on November 7, 2018 and the second round on December 19, 2018. The government is expected to remain in place until the inauguration of the new president, which is planned for mid-January 2019.