Madagascar is assessed at low risk of external debt distress. This marks a change from moderate risk in the June 2018 DSA, despite a broader definition of external debt, and reflects an upgrade in Madagascar's debt carrying capacity rather than a change in the debt path. Under the baseline,...

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...

Madagascar showed strong economic growth and low inflation under the Poverty Reduction and Growth Facility (PRGF) Arrangement. Executive Directors commended these developments, and stressed the need to restore fiscal discipline, improve governance, strengthen the business climate to encourage...

This paper examines the first annual report on the implementation of Madagascar’s Poverty Reduction Strategy Paper (PRSP). The report reviews the status of achievements on policy measures, action plans, as well as reforms concerning the Initiative for the Heavily Indebted Poor Countries...

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

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...

This Selected Issues paper on the Republic of Madagascar reports on the several key themes associated with longer-term development issues in Madagascar. As one of the poorest countries in sub-Saharan Africa, Madagascar suffers from low levels of social indicators across all fronts including...

This paper reviews Madagascar’s progress under the Heavily Indebted Poor Countries (HIPC) Initiative. Total assistance to be provided to Madagascar under the HIPC Initiative amounts to US$836 million in net present value terms—US$22 million higher than the decision point estimate. The paper...

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...

This Selected Issues paper and Statistical Annex analyzes the inflation and monetary policy in Madagascar during the 1990s. The paper highlights that in 1995, Madagascar’s inflation performance was somewhat disappointing, although 12-month price increases slowed from 60 percent at end-1994 to...