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
Author:
International Monetary Fund. African Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2023: Issue 117
Language:
English
Publication Date:
21 Mar 2023
DOI:
https://doi.org/10.5089/9798400236013.002
ISBN:
9798400236013
ISSN:
1934-7685
Pages:
156
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
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The COVID-19 pandemic and extreme weather events have aggravated Madagascar’s fragility. The poverty rate is estimated to be above 80 percent. After a stronger-than-expected recovery in 2021, growth is estimated to have decelerated in 2022 mostly due to climate shocks and a worsening global environment. Fiscal performance has deteriorated with weak revenue performance and increasing crossliabilities with oil distributors. While fiscal and external deficits have widened, fiscal and external sustainability are preserved in the medium term.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2023: Issue 117