IMF Staff Country Reports

Republic of Madagascar: Staff Report for the 2024 Article IV Consultation; First Review Under the Extended Credit Facility Arrangement; Request for A Waiver of Nonobservance of Performance Criteria; and Financing Assurances Review; and First Review Under the Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar

March 21, 2025

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Format: Chicago

International Monetary Fund. African Dept. "Republic of Madagascar: Staff Report for the 2024 Article IV Consultation; First Review Under the Extended Credit Facility Arrangement; Request for A Waiver of Nonobservance of Performance Criteria; and Financing Assurances Review; and First Review Under the Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar", IMF Staff Country Reports 2025, 060 (2025), accessed April 2, 2025, https://doi.org/10.5089/9798229003834.002

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Summary

Real GDP growth stabilized at 4.2 percent in 2024. Led by food and energy prices, year-on-year inflation persisted, rising from 7.3 percent in March 2024 to 8.6 percent in December 2024 as deteriorating road and electricity infrastructure continued to weigh on transportation and production costs. Fiscal performance over the first part of the year was mixed, mostly due to the disbursement of an exceptional loan to JIRAMA, only partially compensated by the slow execution of domestically financed public investment.

Subject: Climate change, Environment, External debt, Public debt, Revenue administration

Keywords: Africa, B. government policy, Climate change, Climate change vulnerability, Floating exchange rate regime, Global, HIPC resource, Middle East, Quality standard, RSF arrangement, Sub-Saharan Africa, Unwavering commitment

Publication Details

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