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The World Bank’s annual report on Madagascar’s national policies and institutions shows that by 2023, 80.2% of the country’s population will live on less than $2.15 a day, or in total poverty. The international financial institution, one of the Big Island’s traditional financial partners, puts Madagascar’s population at 30.3 million in the report.
Madagascar scores 3.3 in this assessment, “above the average score of IDA in sub-Saharan Africa”. But this does not show anything good, since the situation is said to be stable, having not changed since 2017, and in the area of management of public sector institutions the situation is particularly worrying, since the average rating of the large island is 2, out of 7, ie an evolution towards the “zero” point, as in the case of the country’s economic management.
For the World Bank, Governance fragility requires immediate action, including strengthening legal and judicial systems, enforcing property rights, and improving transparency and accountability of public sector institutions. In addition, insecure land tenure rights are a major obstacle to inclusive and sustainable growth. ».
However, she noted that “ Coordination between debt management and macroeconomic policies has been strong. In the area of public debt, the production of comprehensive statistics, annual management strategies and a clear legal framework for borrowing constitute positive developments. In parallel, The country continues to implement reforms aimed at strengthening its monetary and exchange rate policy framework », estimates by the World Bank.
Madagascar made notable progress at the structural policy level, scoring 3.3, particularly in the trade sector, the financial sector and the corporate regulatory framework.
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