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Publication | 17 December 2020

Madagascar Economic Update: setting a course of recovery

Global Food and Nutrition Security

Economic activity in Madagascar has been severely impacted by the COVID-19 pandemic, resulting in a recession comparable to that of the 2009 constitutional crisis and the reversal of close to a decade of progress in poverty reduction. While conditions are expected to stabilize in 2021, the impact of the pandemic will cast a long shadow on economic and social prospects and could be compounded by other shocks, including droughts and other climatic events affecting already vulnerable populations. To set the country on a course for recovery, the government will have to extend emergency measures aimed at preserving livelihoods and preventing a resurgence of the pandemic, but also combine them with structural reforms aimed at accelerating Madagascar’s economic transformation, strengthening its resilience to shocks, and increase food security.