Republic of Madagascar

Republic of Madagascar Repoblikan'i Madagasikara République de Madagascar Republic of Madagascar


Motto Fitiavana, Tanindrazana, Fandrosoana Amour, patrie, progrès Love, Fatherland, Progress
Anthem Ry Tanindrazanay malala ô! Oh, Beloved Land of our Ancestors!
Location of Madagascar

Capital	Antananarivo

Government	Caretaker government
President of the High Transitional Authority
- From 2009	Andry Rajoelina
Prime Minister
- From 2009	Albert Camille Vital

Legislature	Transitional Parliament
- Upper house	Higher Transitional Council
- Lower house	Transitional Congress

History
- September 12, 1992	Established

Area	587,041 km²

Population
- 2011	21,926,221
Density	37.3/km²

GDP	2011 (PPP)
- Total	US$ 21.7 billion
- Per capita	US$ 990

Currency	Malagasy ariary

Democratic Republic of Madagascar
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The Republic of Madagascar is a country located of the coast of Eastern Africa.

Background

Formerly an independent kingdom, Madagascar became a French colony in 1896 but regained independence in 1960. During 1992-93, free presidential and National Assembly elections were held ending 17 years of single-party rule. In 1997, in the second presidential race, Didier RATSIRAKA, the leader during the 1970s and 1980s, was returned to the presidency. The 2001 presidential election was contested between the followers of Didier RATSIRAKA and Marc RAVALOMANANA, nearly causing secession of half of the country. In April 2002, the High Constitutional Court announced RAVALOMANANA the winner. RAVALOMANANA achieved a second term following a landslide victory in the generally free and fair presidential elections of 2006. In early 2009, protests over increasing restrictions on opposition press and activities resulted in RAVALOMANANA stepping down and the presidency was conferred to the mayor of Antananarivo, Andry RAJOELINA. Following negotiations in July and August of 2009, a power-sharing agreement with a 15-month transitional period was established, but has not yet been implemented.^[1]

Economy

After discarding socialist economic policies in the mid-1990s, Madagascar followed a World Bank- and IMF-led policy of privatization and liberalization that has been undermined since the start of the political crisis. This strategy placed the country on a slow and steady growth path from an extremely low level. Agriculture, including fishing and forestry, is a mainstay of the economy, accounting for more than one-fourth of GDP and employing 80% of the population. Exports of apparel have boomed in recent years primarily due to duty-free access to the US. However, Madagascar's failure to comply with the requirements of the African Growth and Opportunity Act (AGOA) led to the termination of the country's duty-free access in January 2010. Deforestation and erosion, aggravated by the use of firewood as the primary source of fuel, are serious concerns. Former President RAVALOMANANA worked aggressively to revive the economy following the 2002 political crisis, which triggered a 12% drop in GDP that year. The current political crisis which began in early 2009 has dealt additional blows to the economy. Tourism dropped more than 50% in 2009, compared with the previous year, and many investors are wary of entering the uncertain investment environment.^[2]