Publication:
Republic of Madagascar - Joint World Bank-IMF Debt Sustainability Analysis

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dc.contributor.authorWorld Bank
dc.contributor.authorInternational Monetary Fund
dc.date.accessioned2019-10-17T19:22:51Z
dc.date.available2019-10-17T19:22:51Z
dc.date.issued2019-08
dc.description.abstractMadagascar is assessed at low risk of external debt distress. This marks a change from moderate risk in the June 2018 DSA, despite a broader definition of external debt, and reflects an upgrade in Madagascar’s debt carrying capacity rather than a change in the debt path. Under the baseline, external public and publicly guaranteed (PPG) debt is well below applicable thresholds. Stress tests do not breach the threshold applicable to countries with medium debt-carrying capacity. Total (external plus domestic) PPG debt is below the benchmark under the baseline, but growth shocks drive the present value of the ratio of debt to GDP above the benchmark. Shocks could also introduce liquidity problems, as the debt-service to revenue ratio could exceed 100 percent over the long term. The overall rating, of moderate debt distress, remains consistent with the 2018 DSA. These assessments continue to be supportive of Madagascar’s current plans to scale up its borrowing to meet its investment needs, though other factors are also critical.en
dc.identifierhttp://documents.worldbank.org/curated/en/900641570834007200/Madagascar-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019
dc.identifier.doi10.1596/32569
dc.identifier.urihttps://hdl.handle.net/10986/32569
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectDEBT DISTRESS
dc.subjectDEBT SERVICE BURDEN
dc.subjectCONTINGENT LIABILITY
dc.subjectPUBLIC AND PUBLICLY GUARANTEED DEBT
dc.subjectEXTERNAL DEBT
dc.subjectPUBLIC SECTOR DEBT
dc.subjectSUSTAINABILITY ANALYSIS
dc.subjectRISK ASSESSMENT
dc.subjectMACROECONOMIC PROJECTION
dc.titleRepublic of Madagascar - Joint World Bank-IMF Debt Sustainability Analysisen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleRepublic of Madagascar - Joint World Bank-IMF Debt Sustainability Analysis
okr.date.disclosure2019-10-11
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Debt and Creditworthiness Study
okr.docurlhttp://documents.worldbank.org/curated/en/900641570834007200/Madagascar-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019
okr.guid900641570834007200
okr.identifier.doi10.1596/32569
okr.identifier.externaldocumentum090224b0871d1205_1_0
okr.identifier.internaldocumentum31473983
okr.identifier.report142567
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/900641570834007200/pdf/Madagascar-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019.pdfen
okr.region.administrativeAfrica
okr.region.countryMadagascar
okr.topicPublic Sector Development::Public Sector Economics
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Strategic Debt Management
okr.topicInternational Economics and Trade::External Debt
okr.unitEFI-MTI-Global Macro and Debt (EMFMD)
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