IMF staff end Oct. mission to Madagascar, urge faster public investment and fiscal measures
On 12 October 2026, IMF staff concluding an Antananarivo visit (October 5–9, 2026) said budget execution had been slow, urged accelerating public investment while maintaining the end‑year primary balance, and called for full implementation of supplementary measures to address emerging revenue shortfalls.
The desk brief
On 12 October 2026, IMF staff concluding an Antananarivo visit (October 5–9, 2026) said budget execution had been slow, urged accelerating public investment while maintaining the end‑year primary balance, and called for full implementation of supplementary measures to address emerging revenue shortfalls.
The IMF statement increases conditionality pressure on Madagascar’s medium‑term program by linking faster capital spending to maintaining fiscal targets and timely implementation of revenue measures. This raises near-term rollover and financing uncertainty for the government if budget execution and revenue measures are not delivered, potentially complicating funding plans tied to the ECF/RSF arrangements.
Fifth reviews of the ECF and RSF to be scheduled when IMF staff return for a formal assessment.
Sources & verification
Developing storyFurther independent confirmation is required.
- IMF Staff Conclude Visit to Madagascarmiragenews.com (opens in a new tab)
- IMF Ends Madagascar Mission, Urges Faster Public Investment Spendingecofinagency.com (opens in a new tab)
Public references supporting this brief.