Financial Strain Ahead

October 2008 | Ratings Update

Madagascar is one of the 28 countries identified by the World Bank in October as facing financial strains due to high food and fuel costs, as well as the global financial crisis. The nation is considered 'fiscally vulnerable' by the international body, underscoring our outlook for a fiscal deficit which will peak as a percentage of GDP (at 4.4%) in 2008. The president of the World Bank, Robert Zoellick, cautioned that the world should not forget the 'human rescue'

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