IMF praises Madagascar’s approach to monetary framework change
Madagascan central bank to introduce overnight deposit facility to form basis of interest rate corridor
The International Monetary Fund (IMF) has praised the Central Bank of Madagascar’s proposed alterations to its monetary policy framework, but said there is still work to be done.
In its Article IV report published on July 18, the fund said a “successful introduction” of an interest rate corridor would only be possible if market participants trusted the repo transactions and deposit facility “would always be available on demand”.
Since its last Article IV in 2014, the central bank has met all
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