After one year (still counting) of political crisis, uncertainty remains the key word in Madagascar.
Private activities have rebounded compared to the first quarter 2009 but remain below pre-crisis levels. Fiscal policy, globally cautious, went through several “stop and go” episodes, sending mixed messages to financial markets, especially visible through the recent variations in the exchange and interest rates.
This uncertainty is exacerbated by the lack of consistency in policy decisions.
Read the full March/April economic update for Madagascar here [PDF].
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