Madagascar – 16 July 2015

UN dismisses Captain Kidd ‘treasure’ find in Madagascar
50kg (7st 9lb) bar of “silver treasure” recovered from the sea was in fact 95% lead, the UN statement said.
It was presented to Madagascar’s president at a special ceremony in May.
The wreckage that the ingot was found in was not that of the ship captained by notorious Scottish pirate William Kidd, the UN investigators added.

Madagascar wants more foreign firms to compete with state airline
Madagascar has held talks with foreign companies to introduce new air routes to the Indian Ocean island and is open to allowing foreign companies to compete with state-run Air Madagascar on domestic routes, the tourism minister said.
A four-week strike by Air Madagascar employees has hit the island nation’s tourism sector, emptying beaches and tropical rainforests of visitors hoping to catch a glimpse of rare lemurs or flora and fauna unique to the island nation.

IMF cuts Madagascar 2015 growth forecast, says output may fall further
The International Monetary Fund said it had trimmed Madagascar’s 2015 growth forecast to 3.5 percent from 5 percent, citing poor weather and falling commodity prices and warned output may be even lower due to a strike at state-owned Air Madagascar.
Patrick Imam, the IMF’s Madagascar country representative, told Reuters the economy of mineral-rich Madagascar had been badly hit by extreme weather, including cyclones and droughts, and a decline in commodity prices on global markets.