02238cas a2200241 a 4500 AALejournalIMF015819 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513509778 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. African Dept. Republic of Madagascar : Fifth Review Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Republic of Madagascar. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (107 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper discusses Republic of Madagascar's Fifth Review Under the Extended Credit Facility (ECF) Arrangement. Madagascar's performance under its economic program supported by the ECF arrangement has remained generally strong. Discussions focused on the recently adopted 2019 revised budget law, which reflects the priorities of the new government and accommodates additional investment spending without undermining the main program objectives, as well as on the two main challenges relating to fuel pricing and the losses of the public utility JIRAMA. Other issues discussed included the strengthening of social safety nets, reforms in the financial sector, and progress on governance. Growth has been solid, inflation has been moderate, and the external position has remained robust. Going forward, the authorities' continued commitment to strong policies and an ambitious structural reform agenda will be key to mitigating internal and external risks, strengthening macroeconomic stability, and achieving higher, sustainable, and inclusive growth. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2019/262 Full text available on IMF http://elibrary.imf.org/view/journals/002/2019/262/002.2019.issue-262-en.xml IMF e-Library