Countries in the region could benefit from the slower-than-expected monetary policy normalisation in major economies to build additional buffers, preferably aimed at increasing fiscal space and setting development priorities on course. The international community is eager to help.
Early in May, the G20 called a high-level conference on  4 Mustapha S. and Prizzon A., “Africa’s rising debt – How to avoid a new crisis”, October 2018 5 In Madagascar, for instance, large subsidies and transfers to troubled state-owned enterprises (SOEs) such as the electricity  utility JIRAMA and Air Madagascar to cover debt obligations have increased government liabilities.