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 Un

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

Author: 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

Volume/Issue: Volume 2025 Issue 060

Publication date: March 2025

ISBN: 9798229003834

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Topics covered in this book

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Environmental Economics , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , unwavering commitment , B , government policy , RSF arrangement , HIPC resource , floating exchange rate regime , climate change vulnerability , quality standard , Climate change , Global , Africa , Sub-Saharan Africa , Middle East

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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.