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NEWS FLASH

A more and more troubling economic situation 23/10/2009 | 13:07:18

Lost jobs, many others threatened, a negative growth and pay check delays, so is the economic face of the Great Isle made of, after 10 months of political crisis.

Some 100.000 direct jobs are threatened in first lines because of the crisis according to Christian Ntsay, the International Labour Organization's representative in Madagascar.  The global financial downturn and the subsequent decrease of direct foreign investments are worsening the situation. 

 

Besides, the pending risk of Madagascar's exclusion form the list of the AGOA beneficiary countries is jeopardizing tens of thousands of other jobs in the private sector.  

This year is to become Madagascar's first ever year of negative growth since 2002 despite the 7% positive forecasts. The year 2010 is not very flashy either. A large number of private investments have actually been cancelled this year. 

 

The latest report from the World Bank on Madagascar's financial situation has, moreover unveiled that the Madagascan State is starting to be seriously running out of cash. More than half of the public expenditures having been supported by the local financial market during the latest months. And the civil servants' pay check delays for the month of October is already appearing as a very bad sign. 

 

In the meantime, large scale building works have thoroughly withered from Madagascar's landscape. All of the country's infrastructure projects have been indeed financed by foreign partners who have now suspended their help to the Great Isle. 

 

The release of a certain amount of foreign funds will closely be hanging up to the outcome of political talks between mobilities bound by the signature of the Maputo agreements. The so named talks should normally come to an end with the next mobility leaders' meeting on November 3rd in Addis-Ababa, Ethiopia. 


 

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28/07/2010 | 16:31:14
The business district of Ankorondrano will be entitled to a new look if the current building projects are coming true. [See]

28/07/2010 | 16:19:32
The National Dialog’s preliminary talks have begun throughout the Great Isle’s 119 districts, begun addressing the possible stands concerning the crisis’ settlement. The National Conference is dimmed to take place by the end of August. [See]

27/07/2010 | 18:12:40
Three young private sector’s leaders are going to represent the Great Isle in the run of the Young African Leaders’ Summit in Washington, under the aegis of the US President Barack Obama. [See]

27/07/2010 | 17:58:00
The SADC mediator, Joaquim Chissano, left the Great Isle. During a handful of days, he met various political groupings as well as several figures stemming from the civil society. [See]

26/07/2010 | 10:40:15
The High Authority of Transition’s leader is not intending on altering his roadmap made public few months ago. All of the elections will have to come to an end together with this year, as he argued on the national channel’s waves. [See]

26/07/2010 | 10:28:06
The coordination of the civil society’s party is finally a reality. Both groupings overcame their differences and reached a deal. Political parties are however remaining prudent and keep on observing what is coming next. [See]

23/07/2010 | 15:13:47
Oil providing companies operating in Madagascar (Total, Shell, Galana and Jovenna) keep on with their talks with a government stubbornly reluctant to let prices rise [See]

23/07/2010 | 14:48:44
The SADC mediator in the run of the Malagasy crisis has joined Antananarivo on July 22nd. Joaquim Chissano will not oppose the Malagasy home quest for a settlement, provided that the process is involving all of the crisis’ actors [See]

23/07/2010 | 14:34:28
Jean Ping, the African Union’s Commission’s president, is convinced that the quest for a settlement of the Malagasy crisis is compelled to involve all of the concerned actors [See]

21/07/2010 | 17:05:00
Winter has always been being the favorite period so set the bush alight in Madagascar. Few months from now, thick smoke is going to invade Madagascar’s highlands. [See]

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