Your account has been succesfully created.

EN FR

The Morning Brief
Log in

Password

Keep me logged in

Forgot your password?
Subscribe

Madagascar
World Bank and IMF called in to rescue Madagascar's finances

President Rajoelina has had no choice but to turn to the Bretton Woods institutions to bail out the country's economy, burdened largely by debt and subsidies to the oil and utilities sectors. [...]

Published on 10/06/2024 at 05:40 GMT Reading time 2 minutes

This article may be accessed by subscribers

In order to ensure high-quality and independent journalism, Africa Intelligence relies solely on subscriptions from its readers, with no advertising, no events and no consulting work.

Several offers are available depending on your particular reading needs

Consult our offers

Do you want a free trial before subscribing?

Create your free account

Discover our work by making use of the following possibilities: daily newsletters, a selection of free articles, keyword alerts.

Do you want a free trial before subscribing?

create a free account

Finance, Politics

Set up email notifications for these topics

Madagascar
African Development Bank
Air Madagascar
Andry Rajoelina
Independent National Electoral Commission
International Monetary Fund
Jirama
Lova Hasinirina Ranoromaro
Madagascar Airlines
Mokhtar Benlamine
Rindra Hasimbelo Rabarinirinarison
Ron Weiss
Rwanda Energy Group
Thierry de Bailleul
World Bank

Tunisia
Tunis buys barley in bulk

Three companies are sharing a $29.3m contract.

Subscribers only Commodity traders 01.11.2024

Madagascar
QMM suspends paying out dividend to sovereign wealth fund deemed unfit for purpose

Rio Tinto's Madagascan subsidiary, which mines ilmenite in the south of the island, has had to postpone paying out a $12m dividend for 2023 to the country's new Sovereign Wealth Fund as it does not meet the proper conditions.

Subscribers only Mining 15.10.2024

Madagascar
Private sector calls out Rajoelina over VAT refunds

Companies in the Antananarivo free zone are calling on the president to immediately reimburse more than €40m in unpaid VAT refunds, dating as far back as 2022.

Subscribers only Business 11.10.2024

Zimbabwe
Harare hires consultant to improve donor relations

Eager to normalise his country's relationship with financial institutions, Finance Minister Mthuli Ncube hired a communications consultant to promote the government's efforts to reduce public debt, currently almost 100% of Zimbabwe's GDP.

Subscribers only Politics 02.10.2024

Ghana
Akufo-Addo takes French-Ivorian banker Ibrahim Magassa on as adviser

Ibrahim Magassa, chair of Algest Consulting, is advising the Ghanaian government in its talks with international backers to ease the country's debt. He joins a handful of corporate banks and firms already working with the president.

Subscribers only Finance 18.09.2024

Ghana's President Nana Akufo-Addo during a session at the Africa CEO Forum in Abidjan on 13 June 2022.

Madagascar
Rajoelina to select firm to manage Antananarivo's new cable car

Two French companies are vying for the contract to manage the new transport facilities in the Madagascan capital. The massive €150m project has been financed in part by a French government loan.

Subscribers only Infrastructure 17.06.2024

Spotlight | Madagascar
Rajoelina promises to pay off Jirama's debts to Hassanein Hiridjee

Madagascar's state coffers are running low, but the president has nevertheless pledged to settle the debts that the national utility company owes to the multimillionaire boss of Axian Energy. Africa Intelligence reveals the contents of this confidential agreement.

Subscribers only Energy 27.05.2024

Madagascar's President Andry Rajoelina in Antananarivo on 16 December 2023.

Madagascar
French consultants swoop to rescue Madagascar Airlines

With the national airline's future in jeopardy, its management has been hiring consultants, most of them French, according to documents seen by Africa Intelligence.

Subscribers only Business 18.04.2024

Madagascar
Taxman steps up pressure on local businesses

At least a dozen large local companies have had their bank accounts debited directly by the tax authority following tax reassessments, which they dispute. Many more companies stand to suffer the same fate.

Subscribers only Business 12.04.2024

Madagascar
World Bank's lobbying crucial to mining sector reform

The cabinet has approved a new mining code, the reopening of the mining register and the resumption of gold exports. World Bank lobbying has been a significant factor in those decisions, the institution having made its forthcoming €200m budgetary aid conditional on the sector's reform.

Free access Mining 21.04.2023

World Bank President David Malpass and Madagascar's President Andry Rajoelina at the Iavoloha presidential palace in Antananarivo, on 29 April 2019.

Spotlight | Madagascar
Rajoelina cold-shouldered by international lenders over election financing

After having had their fingers burned in 2018, the international financial institutions are reluctant to finance the presidential elections due in nine months. The electorial commission is asking for $33m, which is $18m more than five years ago.

Subscribers only Politics 24.01.2023

A polling station in Antananarivo during the second round of the presidential election, 18 December 2018.

Inner circles | Madagascar
Jirama attempts to move beyond internal strife and tackle rising debt

Madagascar's parastatal power and water company opted for an interim MD with little experience or political clout to put an end to intense internal disputes.

Subscribers only Energy, Politics 10.06.2022

The handover between Rivo Radanielina (left), new managing director of Jirama, and his predecessor Vonjy Andriamanga, on 15 October 2021.

Set up email notifications for these topics

Madagascar
African Development Bank
Air Madagascar
Andry Rajoelina
Independent National Electoral Commission
International Monetary Fund
Jirama
Lova Hasinirina Ranoromaro
Madagascar Airlines
Mokhtar Benlamine
Rindra Hasimbelo Rabarinirinarison
Ron Weiss
Rwanda Energy Group
Thierry de Bailleul
World Bank

Once registered, you will be notified by a short message on your computer or mobile phone as soon as a new edition of our publication or an alert is published. Stay informed anytime, anywhere!

Senegal
Guns and oil drive Russia's Dakar courtship

Botswana, South Africa
From Gaborone to Antwerp, is De Beers's empire on the rocks?

Madagascar
World Bank and IMF called in to rescue Madagascar's finances

This article may be accessed by subscribers

Do you want a free trial before subscribing?

Create your free account

create a free account

Set up email notifications for these topics

Tunisia
Tunis buys barley in bulk

Madagascar
QMM suspends paying out dividend to sovereign wealth fund deemed unfit for purpose

Madagascar
Private sector calls out Rajoelina over VAT refunds

Zimbabwe
Harare hires consultant to improve donor relations

Ghana
Akufo-Addo takes French-Ivorian banker Ibrahim Magassa on as adviser

Madagascar
Rajoelina to select firm to manage Antananarivo's new cable car

Spotlight | Madagascar
Rajoelina promises to pay off Jirama's debts to Hassanein Hiridjee

Madagascar
French consultants swoop to rescue Madagascar Airlines

Madagascar
Taxman steps up pressure on local businesses

Madagascar
World Bank's lobbying crucial to mining sector reform

Spotlight | Madagascar
Rajoelina cold-shouldered by international lenders over election financing

Inner circles | Madagascar
Jirama attempts to move beyond internal strife and tackle rising debt

Set up email notifications for these topics

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

About Africa Intelligence

Subscription

Indigo Publications' websites

Senegal Guns and oil drive Russia's Dakar courtship

Botswana, South Africa From Gaborone to Antwerp, is De Beers's empire on the rocks?

The generals waging war from Khartoum to Darfur

African Union: the battle of the giants

Transition: what's next after the coup?

Madagascar World Bank and IMF called in to rescue Madagascar's finances

This article may be accessed by subscribers

Do you want a free trial before subscribing?

Create your free account

create a free account

Set up email notifications for these topics

Tunisia Tunis buys barley in bulk

Madagascar QMM suspends paying out dividend to sovereign wealth fund deemed unfit for purpose

Madagascar Private sector calls out Rajoelina over VAT refunds

Zimbabwe Harare hires consultant to improve donor relations

Ghana Akufo-Addo takes French-Ivorian banker Ibrahim Magassa on as adviser

Madagascar Rajoelina to select firm to manage Antananarivo's new cable car

Spotlight | Madagascar Rajoelina promises to pay off Jirama's debts to Hassanein Hiridjee

Madagascar French consultants swoop to rescue Madagascar Airlines

Madagascar Taxman steps up pressure on local businesses

Madagascar World Bank's lobbying crucial to mining sector reform

Spotlight | Madagascar Rajoelina cold-shouldered by international lenders over election financing

Inner circles | Madagascar Jirama attempts to move beyond internal strife and tackle rising debt

Set up email notifications for these topics

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

Senegal
Guns and oil drive Russia's Dakar courtship

Botswana, South Africa
From Gaborone to Antwerp, is De Beers's empire on the rocks?

Madagascar
World Bank and IMF called in to rescue Madagascar's finances

Tunisia
Tunis buys barley in bulk

Madagascar
QMM suspends paying out dividend to sovereign wealth fund deemed unfit for purpose

Madagascar
Private sector calls out Rajoelina over VAT refunds

Zimbabwe
Harare hires consultant to improve donor relations

Ghana
Akufo-Addo takes French-Ivorian banker Ibrahim Magassa on as adviser

Madagascar
Rajoelina to select firm to manage Antananarivo's new cable car

Spotlight | Madagascar
Rajoelina promises to pay off Jirama's debts to Hassanein Hiridjee

Madagascar
French consultants swoop to rescue Madagascar Airlines

Madagascar
Taxman steps up pressure on local businesses

Madagascar
World Bank's lobbying crucial to mining sector reform

Spotlight | Madagascar
Rajoelina cold-shouldered by international lenders over election financing

Inner circles | Madagascar
Jirama attempts to move beyond internal strife and tackle rising debt