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Madagascar

Capital Antananarivo
Area Sq Km 587 041
Area Sq Miles 226 658
Population 19,448,815
Languages Malagasy, French
Religions Traditional beliefs, Christian, Sunni Muslim
Currency Franc
National Day

Madagascar

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Economy Overview
Madagascar (also called the Malagasy Republic) is a democratic island republic that is a vital part of the Indian Ocean Island chain linked to Africa. The local currency is the Malagasy franc (FMG). Madagascar is mainly an agrarian economy with coffee, vanilla, sugarcane, cloves, cocoa, rice, cassava (tapioca), beans, bananas, peanuts livestock products being the primary exports. The local industrial sector embraces mainly meat processing, soap, breweries, tanneries, sugar, textiles, glassware, cement, automobile assembly plant, paper, petroleum and tourism. After the privatization & liberalization policy spearheaded by the World Bank & IMF in the mid 1990s, textile exports from the country have registered a dramatic rise. To promote light manufacturing, the Government of Madagascar established a duty-free export processing zone in 1990. This has resulted in an increase of foreign direct investment & growth of non-traditional exports.

Madagascar's main trading partners are the USA, France, Germany, China, Hong Kong, Iran, Mauritius, and since 2004, South Africa. Foreign currency may be imported into Madagascar without restriction (provided that a written declaration is made to customs) and the Floating System is in operation.
Government
The republic of Madagascar is a semi-presidential democratic republic where a multi-party system prevails. The head of government is the Prime Minister and executive powers are vested in the cabinet, he subsequently forms. Legislative authority is wielded by the government & the Senate & the National Assembly; whereas the Judiciary is independent of both the executive & the legislature.

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