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Phone Code: 00261Root-level Domain Code: .mg
Phone Code: 00261
Root-level Domain Code: .mg
Background: Formerly an independent kingdom, Madagascar became a French colony in 1896, but regained its independence in 1960. During 1992-93, free presidential and National Assembly elections were held, ending 17 years of single-party rule. In 1997, in the second presidential race, Didier RATSIRAKA, the leader during the 1970s and 1980s, was returned to the presidency. The 2001 presidential election was contested between the followers of Didier RATSIRAKA and Marc RAVALOMANANA, nearly causing secession of half of the country. In April 2002, the High Constitutional Court announced RAVALOMANANA the winner.
Economy Overview: Having discarded past socialist economic policies, Madagascar has since the mid 1990s followed a World Bank- and IMF-led policy of privatization and liberalization. This strategy placed the country on a slow and steady growth path from an extremely low level. Agriculture, including fishing and forestry, is a mainstay of the economy, accounting for more than one-fourth of GDP and employing 80% of the population. Exports of apparel have boomed in recent years primarily due to duty-free access to the United States. Deforestation and erosion, aggravated by the use of firewood as the primary source of fuel, are serious concerns. President RAVALOMANANA has worked aggressively to revive the economy following the 2002 political crisis, which triggered a 12% drop in GDP that year. Poverty reduction and combating corruption will be the centerpieces of economic policy for the next few years.
Geography Note: world's fourth-largest island; strategic location along Mozambique Channel
Location: Southern Africa, island in the Indian Ocean, east of Mozambique
Natural Resources: graphite, chromite, coal, bauxite, salt, quartz, tar sands, semiprecious stones, mica, fish, hydropower
Geographic Coordinates: 20 00 S, 47 00 E
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