After being hit by cyclones, the food and energy crisis as well as the global financial turmoil, Madagascar is today in the middle of a severe political crisis. As a result, Gross Domestic Product (GDP) growth could turn to be negative in 2009, the first time since 2002 when the economy shrank by 12.7 percent. Three major economic risks are emerging: (i) inability of the public sector to manage its budget, and notably pay salaries, without excessive use of domestic borrowing; (ii) rising unemployment in visible and strategic sectors (tourism and textiles); and (iii) financial pressures on the local currency and a rapid decline in the Central Bank' s reserves.
Detalhes
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Data do documento
2009/04/14
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TIpo de documento
Documento de Trabalho
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No. do relatório
64337
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Nº do volume
1
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Total Volume(s)
1
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País
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Região
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Data de divulgação
2011/08/30
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Disclosure Status
Disclosed
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Nome do documento
Madagascar - Economic and political update
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Palavras-chave
domestic tax;customs revenue;access to external finance;international community;fiscal adjustment;balance of payment crisis;capital inflow;severe political crisis;exchange rate;financial pressure;Capital Inflows;global financial;external debt service;Public Spending;gdp growth rate;export processing zone;Exchange Rates;political uncertainty;commercial bank account;domestic banking sector;basic social service;absence of access;local financial market;global financial crisis;job loss;tourism;majority of farmer;political conflict;Financial Sector;economic instability;political insecurity;mining company;foreign investor;excess liquidity;dollar term;food price;foreign reserve;tax revenue;tourism sector;export activity;import volume;import value;political situation;project execution;mining production;mining companies;agricultural sector;public deficit;energy crisis;excessive use;domestic borrowing;rising unemployment;political turmoil;fiscal deficit;inflationary pressure;political force;national statistical;private activity;increasing unemployment;private operator;primary sector;international market;company operating;informal sector;commodity price;aid flow;public revenue;national assembly;social tension;public borrowing;financial difficulties;external financing;potential buyers;t-bill market;information gap;external resource;public budget;credit account;public wage;Housing;Electricity;
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