Republic of Madagascar: Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 156

Publication date: May 2005

ISBN: 9781451825343

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , monetary policy , credit policy , PRGF arrangement , authority , monetary policy implementation , PRGF loan , policy implementation , Credit , Structural reforms , Poverty reduction strategy , Global

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Summary

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 during the first half of the year. All quantitative performance criteria at end-September and the structural performance criterion at end-December have been met. Further steps are needed to strengthen monetary policy implementation. Implementation of public enterprise reform, which has been uneven, also needs to be accelerated.