Operating Environment Overview | Malagasy Banking Institutions (Aug 2022)

statistical-img (1)
Credit Reports

Over 1500 reports, spanning 22 countries, detailing GCR’s opinion regarding the creditworthiness of an entity, a security or financial instrument, or an issuer of securities or financial instruments.

industry-img (1)
Industry Reports

A collection of publications, providing you with key industry analysis and insights across various geographical regions.

SFresearchsite (1)
Monitoring Updates

Dashboards exhibit key performance metrics related to Structured Finance transactions publicly rated by GCR, which include credit enhancement levels, excess spread, defaults, recoveries and covenants.

Filename Madagascar-Banking-Industry-August-2022.pdf
Filesize 240 KB
Version paid report
Date added Aug 15, 2022
Category Financial Institution, Industry Reports
Tags Madagascar

Madagascar is an island country located in the Indian ocean off the coast of southern Africa and is the fifth largest island in the world with a population of 29m. The country is one of the African countries most severely affected by climate change and experiences an average of three cyclones per year. According to the World Bank, around 81% of the population lives below the international poverty line of USD1.90 per day, a new high on the back of the COVID-19 pandemic. Despite having considerable natural resources (graphite, chromite, coal, bauxite, rare earth elements, salt, quartz, tar sands, semiprecious stones, mica, fish and hydropower) these are largely untapped, and Madagascar has among the highest poverty rates in the world. Agriculture, including fishing and forestry, is a mainstay of the economy, accounting for more than one-fourth of GDP and employing c.80% of the population. Madagascar produces 80% of the world’s vanilla beans and its reliance on the commodity for most of its foreign exchange is a significant source of vulnerability.