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Republic of Madagascar: Staff-Monitored Program and Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar
Summary:Madagascar’s economic recovery has failed to gain momentum in 2015, due largely to external shocks, persistent political instability, and weak governance. Nonetheless, the authorities have implemented an adequate policy mix that has broadly maintained macroeconomic stability. However, current growth and investment outcomes are not sufficient to make significant progress in improving social conditions, and increased revenue and external financing are needed to meet large infrastructure and social needs. Balance of payments needs remain both urgent and protracted.
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