World Bank: Madagascar’s poor economic record

Melting the economy into politics is not politically correct. This traditional conclusion is now being addressed anew since the lack of political debate over the economy has proved to be a bad thing for the economy itself. In other words, the World Bank’s experts believe Madagascar sharply lacks an economic policy, a relevant cause of its underdevelopment. So reads the very diplomatic reproaches against the country’s leaders, former, present and incoming ones. According to Adolfo Brizzi, the World Bank’s country manager in Madagascar, “the knowledge and the analysis of experiments are also paramount parts of the development process”, contrary to the total focus on financings.  

The report is clear, Madagascar missed out on its own development in spite of its significant natural and in human resources. This virgin potential, however leaves a relatively good progress margin, could past errors be corrected. Part of these mistakes that have been leading the country into poverty and economic recession, the successive governments’ poor political decisions are being pointed at the world bank’s experts, for having slowed the country’s growth down instead of speeding it up.  

The balance sheet presents nothing to be proud of after 50 years of Malagasy governance. In 2010, two inhabitants out of three are live below the poverty line, with less than one dollar a day. Practically nothing has changed since 1980. The repeated political instability situations generated economic crises regularly restricted the effects of development. In 2009, Madagascar’s GDP shrinked by 8% against 15% in 2002. This gap  translates the disastrous consequences of the economic dams imposed by Didier Ratsiraka’s supporters eight years earlier.  

The numbers presented by the World Bank is no good. Between the years 2003 and 2008, Madagascar’s GDP would only have increased by 3.4%. This tiny performance reflected by a 3 to 5% increase of the households’ GDP, although this period was that of important public investments. The  general situation’s worsening is equally marked by the appearance of a new wealthy class which only deepens the gap between rich and poors even more. 

The World Bank is making leadership’s poor decisions responsible for Madagascar’s poor economic performance. The country does not draw any profit from its biodiversity and mining resources potential. Roads and human development indexes are still the country’s weaknesses. The poor use of lands as well as the poor land related policy is considered as brakes against development. Madagascar is all over again vulnerable to natural disasters’ threats. 

“Madagascar and an economic re-launch program”, was the title of the 21 points’ plan established by about thirty experts from the World Bank. The institution denies any attempt to poke its nose into internal issues, and the action is not official since the government that failed to be recognized by the international community has not been involved. These points are being proposed as a platform to address the incoming economic proceedings. They country’s weaknesses and strengths are openly being displayed.