As a result, the Malagasy Ariary
has appreciated slightly in real effective terms, and the Central Bank of Madagascar has boosted international reserves significantly, well beyond program targets.
It also said that it will launch four new Malagasy ariary
banknotes this month and another four later in the year.
But the island's currency, the Ariary
, has depreciated by about 15 percent against the US dollar so far in 2014, while foreign exchange reserves of the central bank have dwindled somewhat.
In its place, blankets imported from China, which retail for around 10,000 Ariary
(roughly $5) (as opposed to the 30,000 - 70,000 Malagasy Ariary
that a blanket made by Somacou can cost, depending on quality), now command 80 per cent of the market share.
A micro-credit scheme called Credimadio lends 14,000 ariary
(around $6) with favourable repayment terms in three instalments.
In 2010, SAMIFIN identified ariary
316,704 billion (approximately $158 million) of suspicious transactions in the construction, logging and mining sectors.
Out/of/pocket costs for caesarean sections and neonatal care at CME/CHUM * Caesarean sections (n=103) Mean costs Madagascan % of Range Ariary
US$ total (US$) Drugs, medical supplies 155,236 86 62.
For category 6, tax rate is 1% of the market value Developed property: between 5 and 10% but may not be less than 2,000 Ariary
per building (20.
In the last year, inflation has risen as a result of a 13 per cent devaluation of the Ariary
, Madagascar's currency.
Prepaid telephone cards worth 1,000 Ariary
(about 46[cents] in the local currency) are sold for 12,000 Ariary