Madagascar Prominent boost

Madagascar Prominent boost

Madagascar Prominent boost

By PIERRE-OLIVIER ROUAUD – Published on April 6th, 2014, at 11:54 | L’Usine Nouvelle n° 3371

All to build or almost. The task which expects new President de Madagascar Hery Rajaonarimampianina, one of the stars of the top European Union – Africa of the April 2nd and 3rd, in Brussels, has all works of Hercule. Moreover, with a certain irony his first name means “force” in Malagasy. Elected representative at the end of December, during a transparent poll after five years of political crisis, “Hery” must complete the institutional transition with the nomination from a government. For this certified public accountant who was professor at university in Metz and was especially, since 2009, Minister of Finance for the power of transition, it is the requirement, but not sufficient, in the rectification of Madagascar which, little by little, reinstates all the international authorities. If the hope is there, the situation looked grim in what remains one of the poorest countries of the world with an income per capita lower than 500 dollars a year. Indeed, during these years of instability, passed the shock related to the events of 2009, the economy in this island vaster than France did not completely stop.
The last year, this country of 25 million inhabitants, rural essentially, has even known a growth of 2.6%. But it is well too little taking into consideration 2.8% of population growth. And in volume the activity was especially drawn by two enormous mining projects, one in ilmenite carried out by Rio Tinto in the South and the other, more recent, in Ambatovy on on the east side in nickel. The insecurity and incertitudes leaded tourism. Most investors had sulked the Red island. Today, the machine should be started again. “All is urgency”, according to the word of the president. The donors have just promised nearly 900 million euros of supports. Those will especially come to attend to the most urgent things first and, in particular, to cover the mistakes of an impecunious State: The public expenditure exceeds hardly 12% of the GDP. On the matter, we also expects a competition of the IMF, which should normalize its relation with Madagascar. But it is especially private sector which is hoped the trigger.
Soon, the island should be reinstated in Agoa, the Africa-United States free-trade agreement –. Its suspension by Washington had been worth to him the loss of more than 320 million dollars of exports, textiles primarily. The assistances of Brussels or Paris will follow. The foreign companies, therefore, are on a war footing, the Frenchwomen in particular. Five hundred and fifty are already installed in a country whose elite closely remains related to France. Agriculture, infrastructures, tourism, light industries, energy… in condition that the fundings arrive, opportunities abound. Chinese and Mauritians are not the last to have understood it.
Pierre-Olivier Rouaud

Madagascar Prominent boost. Real Estate Madagascar.