Since 2009 Madagascar’s economy has been struggling after the foreign investors were scarred off. The country is one of the world’s poorest, despite rich deposits of minerals such as reserves of nickel, cobalt and uranium.
According to the World Bank, Madagascar’s population of 24 million people is growing at a rate of 2.8 percent annually.
In July, the IMF announced a package worth $304.7 million in financial assistance for the Indian Ocean island nation under a 40-month extended credit facility. The Fund also said it had trimmed the country’s economic growth forecast for 2015 to 3.1 percent.