News Feeds
02 Mar 2023
IMF Executive Board Completes the Third Review Under the Extended Credit Facility, Approves $32.6 Million Disbursement, and Concludes the 2022 Article IV Consultation with the Republic of Madagascar
Since the last Article IV consultation in 2019, the Malagasy authorities have implemented several key policy recommendations, but ambitious reforms remain hampered by limited capacity and weak governance. In a context of lower global growth and high international prices, Madagascar’s growth is projected to stall at 4.2 percent in 2023 while annual average inflation would accelerate above 10 percent. Risks from the domestic political situation, low COVID-vaccination rates and adverse global developments cloud the outlook. On the upside, the implementation of the full reform agenda envisaged in the Plan Emergence Madagascar would have significant effects on productivity and growth.
