Performance under the ECF-supported program is positive overall.
Economic growth is projected at 5.0 percent in 2018, and prudent monetary policy is helping to contain inflation.
Scaling-up public investment, accelerating reforms at JIRAMA, and passing laws to strengthen governance are key to advance program priorities.
A team from the International Monetary Fund (IMF) led by Marshall Mills, Mission Chief for Madagascar, visited Antananarivo from March14–28, 2018 to hold discussions on the third review of Madagascar’s economic reform program supported by the IMF’s three-year Extended Credit Facility (ECF) . Good progress was made during the discussions, and they will continue in the coming weeks. Following conclusion of ongoing discussions, the IMF Executive Board could consider the third ECF review in June 2018.