Country Financial Sector Profilesback

Financial Sector Overview

Madagascar officially the Republic of Madagascar , and previously known as the Malagasy Republic, is an island country in the Indian Ocean, off the coast of East Africa. The nation comprises the island of Madagascar (the fourth-largest island in the world), and numerous smaller peripheral islands.

Following the prehistoric breakup of the supercontinent Gondwana, Madagascar split from the Indian peninsula around 88 million years ago, allowing native plants and animals to evolve in relative isolation. Consequently, Madagascar is a biodiversity hotspot; over 90% of its wildlife is found nowhere else on Earth. The island's diverse ecosystems and unique wildlife are threatened by the encroachment of the rapidly growing human population and other environmental threats.

Read More

At a Glance

At a Glance Source
Population in thousands (2017): 25,570.9
GDP per capita (current US$) 2017 - World Average 10,721.61: 449.72
Account (%) age 15+) - (2014 vs 2017): 9% | 18%
Agriculture Orientation Index - Credit (Agriculture, Forestry and Fisheries share of GDP) (2015 vs 2016): n/a
Financial Inclusion Strategies: • National Financial Inclusion Strategy of Madagascar (NFIS 2018-2020 (released Nov 2018)) • SADC Financial Inclusion Strategy 2016-2021
Domestic credit provided by financial sector (% of GDP) 2017: 18.98
Made or received digital payments in the past year (% age 15+) (2014 vs 2017): 5% | 15%
Remittances % of GDP for 2017: 0.025
Mortgage Interest Rate / Mortgage Term (years): 19% | 20

Donor Projects Database


Latest News & Events

Latest Publications

Dec 10, 2019 | International Monetary Fund
Jul 31, 2018 | FinMark Trust | FinMark Trust
Jun 30, 2018 | N. Sharma, F. Razafimanantsoa et al. | The World Bank