Driving National Progress: Achieving Sustainable Development Goals

The International Monetary Fund has announced an immediate disbursement of 48 million USD to Madagascar. This is the first installment of the 36-month Extended Credit Facility (ECF) program, which totals 337 million USD.

The IMF Executive Board decided on Friday to approve Madagascar’s request for new measures under the Resilience and Sustainability Facility (RSF). Benlamine Mokhtar, IMF Resident Representative in Madagascar, announced on Saturday that the program aims to strengthen the country’s economic resilience.

This assistance will promote fiscal sustainability, improve governance, support monetary and financial stability, and encourage reforms essential for industrialization and worker development. Concurrently, the IMF Board approved an agreement under the Disaster Relief Fund (DRF) for approximately 321 million USD. This fund will help Madagascar adapt to climate change by implementing appropriate policies.

« The Malagasy authorities’ program is supported by these new agreements », explained the IMF Deputy Managing Director. These initiatives focus on developing human capital, stimulating economic growth, and improving governance. According to her, this financing could help Madagascar achieve its goals of sustainable development and economic resilience.