Investor Update
Madagascar Political Summary
MADAGASCAR OIL
Madagascar is the 4th largest island in the world covering almost 600,000 sq. KM and a population of 22 million
Past socialist economic policies were replaced in the mid 1990s with a World Bank and International Monetary
Fund sponsored liberalisation and privatisation schemes
In 1993, free presidential and National Assembly elections were held ending 17 years of single-party rule
In 2001, Marc Ravalomanana won a highly contested presidential election, but achieved a landslide victory in 2005
during free and fair elections
In early 2009, protests over increasing restrictions on opposition press and activities resulted in Ravalomanana
stepping down and the presidency was assumed by the mayor of Antananarivo, Andry Rajoelina
As a result, the European Union, United States and other world bodies suspended aid to Madagascar
In late 2011, the Southern African Development Community (SADC) proposed a road map to new elections. This
plan was adopted, resulting in the appointment of a new cabinet with ministers from all 11 political parties.
The Madagascar government remains in a transitional state as it seeks to establish a date for elections. The signing
of the SADC Roadmap originally anticipated elections in 2012, but that has now moved into 2013
Source: CIA Fact book
14 May 2012
Investor Update
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