| The IMF delegation received at the Ministry of Economy and Finance in Antaninarenina. |
Discussions took hold at the Ministry of Economy and Finance in Antaninarenina, where a delegation from the International Monetary Fund (IMF) is currently in Madagascar, led by the head of mission, Frédéric Lambert. The mission in question began yesterday with a meeting which took place in the presence of the Minister of Economy and Finance, Rindra Hasimbelo Rabarinirinarison. A meeting of great importance insofar as it concerns technical negotiations on two new financing agreements, in this case the new configurations of the program on the Extended Credit Facility (ECF) and the program under the Facility for Resilience and Sustainability (FRD).
In concrete terms, the FEC which was spread over the period 2021-2023 is in its final phase. As the FRD must be carried out with another program, of at least eight months with the IMF, the Malagasy side requested the establishment of a new FEC of thirty-six months to accompany it. A new program that meets the development objectives set by the Malagasy State. “This new FEC program is focused on four pillars which are in line with the General State Policy (PGE),” declared Frédéric Lambert. These are, in this case, the budgetary pillar with a view to macroeconomic stability, the governance pillar, the monetary pillar, the pillar of inclusive growth and social protection, as well as that of human capital development. . These macroeconomic cross-sections will still be discussed with the government which will still have to confirm them. Rindra Hasimbelo Rabarinirinarison was delighted that this new program is in synergy with the PGE and the vision of the President of the Republic, Andry Rajoelina. She also reaffirmed the desire of the Malagasy State to undertake reforms and to work with the IMF to meet the challenge of Madagascar’s economic development.
Eric Ranjalahy