Madagascar News

MOIL Issues Interim Financial Statements (PDF)

MOIL Announces Bridge Financing Facility and Operational Update (PDF)

IMF trims Madagascar’s 2015 GDP growth forecast to 3.2 pct

ANTANANARIVO, Sept 23 (Reuters) – Madagascar’s economy is expected to grow by 3.2 percent in 2015, the International Monetary Fund said, slower than its previous 3.5 percent forecast as falling commodity prices, slowing tourism sector and power cuts hurt output.

Madagascar: Aina Means Life in Madagascar – It Also Means Greater Access to Food

Vulnerable communities in Behara, in drought-hit southern Madagascar, participate in an European Union-funded food for assets programme

Madagascar and IMF Mission Reach Staff-Level Agreement On Financial Assistance Under the Rapid Credit Facility and a Staff-Monitored Program

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

Madagascar: World Bank Approves a Social Safety Net Project for Madagascar

The World Bank’s Board of Executive Directors has approved a US$40 million credit for a social safety net project in Madagascar.

Madagascar Oil Strategic Process Update (PDF)

Madagascar Oil (AIM: MOIL), which has over 1.7 billion barrels of contingent resources in the Tsimiroro field, provides the following update on its strategic partnering process and financing initiatives.

Madagascar considers taking stakes in mining projects, increasing royalty fees

NAIROBI, Sept 2 (Reuters) – Madagascar plans to increase royalty fees and claim 10 percent stakes in mining concessions, under proposed changes to its mining code, according to a draft document seen by Reuters on Wednesday.

Madagascar faces uphill struggle to revive bruised mining sector

* Madagascar economy yet to recover from a coup in 2009

Power Projects Take Time But Access to Electricity is Spreading – Paul Hinks, Symbion Power

Washington, DC — Paul Hinks, CEO of Symbion Power, has had a 30-year career in the energy sector, the last five focused on Africa. The independent power producer and engineering contractor builds, owns and operates electricity infrastructure. Since 2012, Hinks has also served as chairman of the Corporate Council on Africa. He was interviewed in the company’s Washington, DC headquarters.