The International Finance Corporation (IFC) and the Central Bank of Madagascar have partnered to enhance the country’s public credit registry, aiming to improve credit reporting and expand access to finance for individuals and small businesses. The collaboration involves strengthening credit data sharing, training Central Bank employees, and promoting a functional credit information system. The project aims to support economic activity, create jobs, and bolster financial sector resilience in Madagascar. It will also facilitate collaboration between the public credit registry and the private credit bureau.
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Madagascar: Central bank reports uptick in credit activity
The latest report on the Madagascan banking sector by the Banky Foiben’i Madagasikara suggests a resumption of credit activity in Q3 2022. The report highlights positive results across most banks, with a general increase in real credit flow and profitability. Meanwhile, banks invested in the region increased, while costs of operation decreased.
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Madagascar: New governor takes helm of central bank
The government of Madagascar has appointed a former IMF official as its new governor for its central bank. The new governor, Dr. Noro R. Rakotonirainy, will take on the role on March 1, 2023 and will be responsible for overseeing the country’s monetary policy, maintaining financial stability, and promoting economic growth.
Categories: Regulators