The government of the Refoundation has successfully passed its “make-up” exam before the International Monetary Fund (IMF). Madagascar has secured a new disbursement of $155 million from the IMF following the combined third and fourth reviews of programs supported by the Extended Credit Facility (ECF) and the Resilience and Sustainability Facility (RSF).
The IMF Executive Board, meeting in Washington D.C. on Wednesday, granted a waiver for a fiscal performance criterion and urged authorities to accelerate domestic revenue mobilization and restore the full application of the automatic fuel price adjustment mechanism by January 2027.
The immediate disbursement is divided into approximately $100 million under the ECF and $55 million under the RSF. However, the approval comes with several recommendations. Given that tax revenues are considered “below expectations,” the institution is calling for “renewed efforts in domestic revenue mobilization and strengthened public finance management,” specifically recommending the rationalization of tax exemptions and the reinforcement of tax and customs administrations.
The IMF also emphasized the recovery of Jirama as a major priority, urging the rapid implementation of the public utility’s recovery plan to improve the reliability of electricity and water supply.
Captured & Published at: 2026-10-01 07:08:34 (Madagascar Local Time EAT)
Original Source: https://www.2424.mg/cooperation-le-conseil-dadministration-du-fmi-debloque-155-millions-de-dollars-pour-madagascar-et-appelle-a-la-poursuite-des-reformes/
