Madagascar: Staff Report for the 2002 Article IV Consultation, Second Review Under the Poverty Reduction and Growth Facility, and Requests for Extension of Arrangement, Waiver of Performance Criteria, and for Interim Assistance under the Enhanced Initiative for Heavily Indebted Poor Countries

January 9, 2003

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Madagascar: Staff Report for the 2002 Article IV Consultation, Second Review Under the Poverty Reduction and Growth Facility, and Requests for Extension of Arrangement, Waiver of Performance Criteria, and for Interim Assistance under the Enhanced Initiative for Heavily Indebted Poor Countries, (USA: International Monetary Fund, 2003) accessed December 26, 2024

Summary

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 collection, an issue that the new government has begun to address. The budget for 2003 is consistent with the macroeconomic constraints, and places an appropriate emphasis on revenue mobilization and on wage restraint. Administrative procedures need to be streamlined to ensure faster expenditure commitment and execution of donor-funded projects.

Subject: Asset and liability management, Banking, Credit, Debt relief, Expenditure, Exports, International trade, Macrostructural analysis, Money, Poverty reduction strategy, Structural reforms

Keywords: Authority, CR, Credit, Debt relief, East Africa, Expenditure prioritization, Exports, Financing, ISCR, Poverty alleviation effort, Poverty reduction strategy paper, PRGF arrangement, PRGF loan, Southern Africa, Structural reforms

Publication Details

Pages:

97
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2003/006
Stock No:

1MDGEA0012003
ISBN:

9781451825268
ISSN:

1934-7685

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