MADAGASCAR needs to reform its fuel subsidy programme which does not help its poorest people, a senior International Monetary Fund official said as the lender considers more funding for the Indian Ocean island.
Famed for its WILDLIFE and eyed by foreign companies for its minerals, Madagascar has struggled to lure back tourists and attract oil and mining giants since a coup in 2009.
The coup also prompted international donors to cut ties, leaving the economy to stagnate and poverty to deepen.
U.S. cuts Swaziland from trade benefits, reinstates Madagascar
The United States cut Swaziland from a duty-free trade program on Thursday because of concerns about crackdowns on peaceful demonstrations and poor protection of workers’ rights.
Swaziland’s exclusion from African Growth and Opportunity Act (AGOA) benefits, a program set up to help sub-Saharan African countries, will raise the cost of its exports to U.S. consumers.
But the United States reinstated AGOA benefits for Madagascar, which was dropped after a coup in 2009, following peaceful elections in the country.