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'''Madagascar''' is an island nation in the [[Indian Ocean]], located off the east coast of [[Africa]]. With a land area of 226,657 square miles (587,040 sq km) it is the third largest island in the world. It has a population of 15.8 million (1997 est); the capital city is [[Antananarivo]]. It was a colony of [[France]] between 1896 and 1960.
'''Madagascar''' is an island nation in the [[Indian Ocean]], located off the east coast of [[Africa]]. With a land area of 226,657 square miles (587,040 km<sup>2</sup>) it is the third largest island in the world. It has a population of 15.8 million (1997 est); the capital city is [[Antananarivo]]. It was a colony of [[France]] between 1896 and 1960.
==Geography==
==Geography==
*Area: 592,800 sq. km. (228,880 sq. mi.).
*Area: 592,800 km<sup>2</sup>. (228,880 sq. mi.).
*Cities: Capital—Antananarivo (pop. about 1,300,000). Other cities—Antsirabe (about 500,000), Mahajanga (about 400,000), Toamasina (about 450,000).
*Cities: Capital—Antananarivo (pop. about 1,300,000). Other cities—Antsirabe (about 500,000), Mahajanga (about 400,000), Toamasina (about 450,000).
*Terrain: Mountainous central plateau, coastal plain.
*Terrain: Mountainous central plateau, coastal plain.
==Economy==
==Economy==
Structural reforms began in the late 1980s, initially under pressure from international financial institutions. An initial privatization program (1988-1993) and the development of an export processing zone (EPZ) regime in the early 1990s were key milestones in this effort. A period of significant stagnation from 1991-96 was followed by 5 years of solid economic growth and accelerating foreign investment, driven by a second wave of privatizations and EPZ development. Although structural reforms advanced, governance remained weak and perceived corruption in Madagascar was extremely high. During the period of solid growth from 1997 through 2001, poverty levels remained stubbornly high, especially in rural areas. A six-month political crisis triggered by a dispute over the outcome of the presidential elections held in December 2001 virtually halted economic activity in much of the country in the first half of 2002. Real GDP dropped 12.7% for the year 2002, inflows of foreign investment dropped sharply, and the crisis tarnished Madagascar's budding reputation as an African Growth and Opportunity Act (AGOA) standout and a promising place to invest. Following resolution of the crisis, the economy rebounded with GDP growth of over 9% in 2003. Currency depreciation and rising inflation hampered economic performance in 2004-2005; by 2006 inflation had abated somewhat (to 11%) but growth remained sluggish (4.7% est.)
Structural reforms began in the late 1980s, initially under pressure from international financial institutions. An initial privatization program (1988-1993) and the development of an export processing zone (EPZ) regime in the early 1990s were key milestones in this effort. A period of significant stagnation from 1991-96 was followed by 5 years of solid economic growth and accelerating foreign investment, driven by a second wave of privatizations and EPZ development. Although structural reforms advanced, governance remained weak and perceived corruption in Madagascar was extremely high. During the period of solid growth from 1997 through 2001, poverty levels remained stubbornly high, especially in rural areas. A six-month political crisis triggered by a dispute over the outcome of the presidential elections held in December 2001 virtually halted economic activity in much of the country in the first half of 2002. Real GDP dropped 12.7% for the year 2002, inflows of foreign investment dropped sharply, and the crisis tarnished Madagascar's budding reputation as an African Growth and Opportunity Act (AGOA) standout and a promising place to invest. Following resolution of the crisis, the economy rebounded with GDP growth of over 9% in 2003. Currency depreciation and rising inflation hampered economic performance in 2004-2005; by 2006 inflation had abated somewhat (to 11%) but growth remained sluggish (4.7% est.)
*GDP (U.S.$, 2007 est., official exchange rate): $7.322 billion.
*GDP (U.S$., 2007 est., official exchange rate): $7.322 billion.
*GDP per capita (2007 est., purchasing power parity): $1,100.
*GDP per capita (2007 est., purchasing power parity): $1,100.
*Unemployment: no reliable data available.
*Unemployment: no reliable data available.