IMF Shifting Back Into Good Standing With Madagascar

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Written by Makula Dunbar

A 2009 political crisis which led to then president¬†Marc Ravalomanana transferring his authority to the military, also led to the end of Madagascar-IMF financial ties. Now the International Monetary fund, according to CCTV Africa, has reopened the gates to economic development and support. The reconvening of this partnership comes right on time as the country’s treasury ¬†is low on cash.

“You know we’ve always had aid. But unfortunately, the aid does not reach the people because it is often pocketed by those in government,” Daniel Ramavoarisoa, a resident of the island’s capital¬†Antananarivo, told CCTV Africa.

Falihery Ramakavelo, a political analyst commented saying there are still precautions to consider:

“It’s probable that the IMF will give financial aid…the Malagasy government should be extremely careful in negotiating.”