Republic of Madagascar: Request for an Arrangement Under the Extended Credit Facility: First Review Under the Staff Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar

Summary: Madagascar is a fragile country striving to recover from an extended political crisis and international isolation from 2009 to 2013, during which key social and developmental indicators deteriorated. Low revenue collection, substantial low-priority public spending, and governance problems are holding back recovery. Nevertheless, broadly satisfactory performance under the six-month staff monitored program that ended in March 2016 is a sign of improving implementation capacity.

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