Madagascar’s Ministry of Finance announced that an International Monetary Fund (IMF) mission is under way in Antananarivo for the third and fourth reviews of the Extended Credit Facility (ECF) and Fund for Resilience and Sustainability (FRD) programmes covering 2024–2027. The opening meeting reviewed progress recorded in 2025, mapped remaining challenges, and discussed strategic directions for continuing reforms. The discussions highlighted priorities including stronger domestic revenue mobilisation, improved quality of public spending, enhanced governance and transparency, safeguarding monetary and financial stability, and integrating climate considerations into public financial management to support inclusive and sustainable growth. The ministry reported that the IMF delegation was led by Constant Lonkeng Ngouana and met with the Minister of Finance alongside the Ministers responsible for energy and hydrocarbons and for environment and sustainable development, as well as the Governor of the Central Bank of Madagascar. The ECF and FRD programmes were presented as key levers for supporting structural transformation over 2024–2027, with the authorities reiterating their intention to continue reforms despite remaining challenges.
Ministry of Finance (Madagascar) 2026-03-30
Madagascar Ministry of Finance hosts IMF mission for third and fourth reviews of the Extended Credit Facility and Fund for Resilience and Sustainability programmes
Madagascar’s Ministry of Finance announced the start of an IMF mission in Antananarivo for the third and fourth reviews of the Extended Credit Facility and Resilience and Sustainability programmes. Discussions focused on domestic revenue mobilisation, public spending quality, governance and transparency, monetary and financial stability, and integrating climate considerations into public financial management. The authorities reiterated their commitment to pursuing reforms under these programmes to support structural transformation despite remaining challenges.