Africa > Madagascar, Republic of

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International Monetary Fund. African Dept.
Madagascar has not yet recovered from the pandemic and is struggling with the aftermath of a severe cyclone season and the fallout of Russia’s war in Ukraine. After a sharp contraction of GDP in 2020 (-7.1 percent) and a modest recovery in 2021 (4.3 percent), growth is projected to stall in 2022. Lower demand from trading partners, higher fuel and food prices, and recent weather events are weighing on economic activity and leading to widening fiscal and external deficits in the short term.
International Monetary Fund. African Dept.
Madagascar continues to be severely affected by the COVID-19 pandemic. After a contraction of GDP estimated at 7.1 percent in 2020, the economic recovery has been sluggish, partly reflecting a delayed reopening of the economy. Postponement of some external budget support, following delays in structural reforms, will open a fiscal financing gap in 2022.
International Monetary Fund. Strategy, Policy, & Review Department
This management implementation plan (MIP) proposes actions in response to the Independent Evaluation Office (IEO)’s report on growth and adjustment in IMF-supported programs. The full implementation of the MIP package will help ensure that, at a time when many countries face strong headwinds, IMF-supported programs not only deliver necessary adjustment to address balance of payments needs but also pay greater attention to their growth effects. While the policy-related deliverables are already incorporated into current departmental work plans and budgets, the operational implementation of these recommendations may require mobilizing additional resources.
International Monetary Fund. Statistics Dept.
At the request of the Ministry of the Economy and Finance (Ministère de l’Économie et des Finances (MEF)) and in consultation with the African Department (AFR) of the International Monetary Fund (IMF), the IMF Statistics Department (STA) carried out a remote mission on government finance statistics (GFS) from November 29–December 10, 2021. The purpose of the mission was to continue to support the Malagasy authorities in their work to adopt international standards of the Government Finance Statistics Manual 2014 (GFSM 2014) for their GFS. The mission would like to thank the Research Directorate (Direction des Études (DE)) of the Directorate General of the Treasury (Direction Générale du Trésor (DGT)) for its close collaboration and more specifically for the timely communication of the required documents, which was essential to the success of the mission given the remote working conditions.
International Monetary Fund. Statistics Dept.
At the request of the Ministry of the Economy and Finance (Ministère de l’Économie et des Finances (MEF)) and in consultation with the African Department (AFR) of the International Monetary Fund (IMF), the IMF Statistics Department (STA) carried out a remote mission on government finance statistics (GFS) from November 29–December 10, 2021. The purpose of the mission was to continue to support the Malagasy authorities in their work to adopt international standards of the Government Finance Statistics Manual 2014 (GFSM 2014) for their GFS. The mission would like to thank the Research Directorate (Direction des Études (DE)) of the Directorate General of the Treasury (Direction Générale du Trésor (DGT)) for its close collaboration and more specifically for the timely communication of the required documents, which was essential to the success of the mission given the remote working conditions.