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Madagascar: The international monetary fund disburses 47.1 million dollars for the island

The Board of Directors of the international monetary Fund (IMF) has agreed in midweek for the immediate payment of emergency financial aid to Madagascar amounted to 47.1 million dollars.
This financial assistance is thus endorsed as rapid credit facility (RCF), and will enable the Malagasy authorities to deal with their pressing need for funding in the context of the balance of payments.
Financial assistance from the IMF will support different policies and economic plans, as well as structural measures that the Government of Madagascar intends to implement to reverse the macroeconomic instability in the island, and "create an environment conducive to growth benefit for everyone", but also "to the reduction of poverty", as reported by the tananews site.
As a reminder, the interest rate funding in respect of the RCA Trust is 0% (up to the end of the year 2014), with a deferred depreciation for a period of five and a half years and a maximum maturity calculated on 10 years.

Antso Rajaona

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