Headwinds For Rajoelina

Headwinds are gathering for newly-installed President Andry Rajoelina. In the aftermath of his undemocratic and unconstitutional seizure of power, Madagascar has been expelled from the African Union. Furthermore, Norway and the US have frozen aid to the Indian Ocean island state. Meanwhile, supporters of the ousted President Marc Ravalomana have begun protesting on a daily basis, and short-term stability remains fragile. With deep uncertainty clouding the political environment, we have dramatically lowered Madagascar's political risk ratings.

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