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Republic of Madagascar: Request for a 40-Month Arrangement under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar

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  • International Monetary Fund

Abstract

The COVID-19 pandemic has hit Madagascar hard, reversing recent progress in per capita income and poverty reduction. GDP is estimated to have contracted by 4.2 percent in 2020. Two RCF disbursements approved on April 3 and July 30 (totaling 2.4 percent of GDP) helped close short-term financing gaps, supported mitigation measures, and contributed to catalyzing donor budget support. The authorities are seeking renewed Fund assistance to help the country face protracted balance of payment needs aggravated by the impact of the pandemic and support the authorities’ reform agenda summarized in the Plan Emergence Madagascar (PEM).

Suggested Citation

  • International Monetary Fund, 2021. "Republic of Madagascar: Request for a 40-Month Arrangement under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar," IMF Staff Country Reports 2021/075, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2021/075
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    Cited by:

    1. Ramaharo, Franck M., 2021. "A simple macroeconomic framework for Madagascar," MPRA Paper 112092, University Library of Munich, Germany.

    More about this item

    Keywords

    ECF arrangement; financing gap; reform strategy; financing needs; frontloaded disbursement; COVID-19; Credit; Global;
    All these keywords.

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