Madagascar’s socialist charter

“The socialist revolution is the only choice possible for us in order to achieve rapid economic and cultural development in an autonomous, humane, and harmonious manner.”

Madagascar’s leader from 1975. His socialist charter and Second Republic promoted nationalization, planned investment and economic decolonization. Debt and weak production led to market-oriented adjustments in the 1980s amid political opposition.

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State and economic-policy context

Madagascar’s leader from 1975. His socialist charter and Second Republic promoted nationalization, planned investment and economic decolonization. Debt and weak production led to market-oriented adjustments in the 1980s amid political opposition.

The state acquired stakes in major financial, transport, trading and manufacturing firms, while private businesses faced price and profit-transfer controls. Increased investment in 1978–1980 raised debt without the expected production gains, followed by adjustment in the 1980s.