Guy Ratovondrahona

Madagascar replaces central bank governor

By Alain Iloniana

ANTANANARIVO Fri Feb 17, 2012 12:43pm EST

(Reuters) - The transitional government of Madagascar, one of the world's poorest countries, said on Friday it had replaced its central bank governor Rasamoely Frederic with a senior bank official, Guy Ratovondrahona, who takes the post in an acting capacity.

The Indian Ocean island has been mired in political uncertainty for more than two years and is struggling to regain the confidence of foreign investors who had been eyeing its deposits of oil, gold, chrome and uranium. The island is also the world's biggest producer of vanilla.

Dissident army officers helped then-opposition leader Andry Rajoelina seize power in 2009 from President Marc Ravalomanana in a move that prompted many countries to freeze non-emergency aid to the island.

Outgoing governor Frederic has headed the central bank since January 2007. His mandate expired a year ago but was extended, Solofo Rasoarahona, the chief of staff for the minister of finance, told Reuters.

Ratovondrahona, an executive at the central bank since May 2011, has previous experience in banking.



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Madagascar names interim central bank chief ahead of poll
ReutersReuters Thu, Oct 17, 2013 07:19 BST..

ANTANANARIVO (Reuters) - Madagascar said on Wednesday it had appointed Vonimanitra Razafimbelo as interim central bank governor after the previous chief died suddenly last month.

The Indian Ocean island has faced political uncertainty for years, and as it heads into presidential elections on October 25, it is struggling to regain the confidence of foreign investors who had been eyeing deposits of oil, gold, chrome and uranium.

Razafimbelo was the central bank's deputy director general under Guy Ratovondrahona, who headed the bank from February last year until his death on September 9.

Among Razafimbelo's top priorities will be to speed up economic growth in Madagascar, a country which the World Bank forecasts will expand by 2.6 percent this year and which is ranked among the world's poorest nations.

The former French colony has been in chaos since Andry Rajoelina seized power with military support in 2009, ousting former President Marc Ravalomanana after opposition protests.

Neither will stand for election later this month.

https://uk.finance.yahoo.com/news/madagascar-names-interim-central-bank-chief-ahead-poll-061944874--finance.html