Financial Position in the Fund for Madagascar as of July 31, 2017

IMF Finances

Transactions with
the Fund

Credit Outstanding

Projected Payments

IMF Members'
Financial Data by
Country

See Also:
Heavily Indebted Poor
Countries (HIPC)

Madagascar: Financial Position in the Fund
as of July 31, 2017

Summary of IMF members' quota, reserve tranche position, SDR holdings, outstanding credit, recent lending arrangements, projected payments due to the IMF, and historical transactions with the IMF.

I. Membership Status: Joined: September 25, 1963;

II. General Resources Account:	SDR Million	%Quota
Quota	244.40	100.00
IMF's Holdings of Currency (Holdings Rate)	213.78	87.47
Reserve Tranche Position	30.62	12.53

III. SDR Department:	SDR Million	%Allocation
Net cumulative allocation	117.09	100.00
Holdings	11.05	9.44

IV. Outstanding Purchases and Loans:	SDR Million	%Quota
ECF Arrangements	100.87	41.27
RCF Loans	61.10	25.00

V. Latest Financial Commitments:
Arrangements:
	Date of	Expiration	Amount Approved	Amount Drawn
Type	Arrangement	Date	(SDR Million)	(SDR Million)
ECF	Jul 27, 2016	Nov 26, 2019	250.55	93.41
ECF ^1/	Jul 21, 2006	Jul 20, 2009	73.32	53.03
ECF ^1/	Mar 01, 2001	Mar 01, 2005	91.65	91.65
^1/ Formerly PRGF.

Outright Loans:
	Date of	Date	Amount Approved	Amount Drawn
Type	Commitment	Drawn/Expired	(SDR Million)	(SDR Million)
RCF	Nov 18, 2015	Nov 25, 2015	30.55	30.55
RCF	Jun 18, 2014	Jun 26, 2014	30.55	30.55
^1/ Undrawn outright disbursements (RFI and RCF) expire automatically 60 days following the date of commitment, i.e. Board approval date.

VI. Overdue Obligations and Projected Payments to Fund ^2/
(SDR Million; based on existing use of resources and present holdings of SDRs):
		Forthcoming
		2017	2018	2019	2020	2021
Principal		1.57	5.89	3.06	6.11	12.22
Charges/Interest		0.31	0.63	0.63	0.63	0.63
Total		1.88	6.52	3.68	6.74	12.85

^2/ When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.

VII. Implementation of HIPC Initiative:
		Enhanced
I. Commitment of HIPC assistance		Framework
Decision point date		Dec 2000
Assistance committed
by all creditors (US$ Million) ^1/		835.75
Of which: IMF assistance (US$ million)		19.17
(SDR equivalent in millions)		14.73
Completion point date		Oct 2004

II. Disbursement of IMF assistance (SDR Million)
Assistance disbursed to the member		14.73
Interim assistance		5.62
Completion point balance		9.11
Additional disbursement of interest income ^2/		1.69
Total disbursements		16.42
^1/ Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts can not be added.
^2/ Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.

VIII. Implementation of Multilateral Debt Relief Initiative (MDRI):

I. MDRI-eligible debt (SDR Million)^1/			137.29
Financed by: MDRI Trust			128.50
Remaining HIPC resources			8.79

II. Debt Relief by Facility (SDR Million)
	Eligible Debt
Delivery Date	GRA	PRGT	Total
January 2006	N/A	137.29	137.29

^1/ The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of end-2004 that remains outstanding at the time the member qualifies for such debt relief.

IX. Implementation of Catastrophe Containment and Relief (CCR): Not Applicable
As of February 4, 2015, the Post-Catastrophe Debt Relief Trust has been transformed to the Catastrophe Containment and Relief (CCR) Trust.
_________________
Decision point - point at which the IMF and the World Bank determine whether a country qualifies for assistance under the HIPC Initiative and decide on the amount of assistance to be committed.
Interim assistance - amount disbursed to a country during the period between decision and completion points, up to 20 percent annually and 60 percent in total of the assistance committed at the decision point (or 25 percent and 75 percent, respectively, in exceptional circumstances).
Completion point - point at which a country receives the remaining balance of its assistance committed at the decision point, together with an additional disbursement of interest income as defined in footnote 2 above. The timing of the completion point is linked to the implementation of pre-agreed key structural reforms (i.e., floating completion point).

Prepared by Finance Department

Disclaimer
The information provided is for your convenience and is not intended to replace other official IMF reports and statements.