The total amount given is now $304.5 million, the IMF said in a statement on its website. The objective is to support the country’s efforts to “reinforce macroeconomic stability and boost sustained and inclusive growth.”
According to IMF,Madagascar’s performance under its economic program supported by the Extended Credit Facility (ECF) arrangement has remained generally strong. 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, the statement added.
(CGTN)
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