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Madagascar News Forums The Transformation of Antananarivo Reply To: The Transformation of Antananarivo


The Central Bank of the Malagasy Republic (BCRM), created in the wake of the signing of the new Franco-Malagasy agreements, which was supposed to lead to the monetary independence of the island, is believed , An instrument of impetus appropriate to the economic development needs of the country. It is, therefore, one of the symbols of the full sovereignty recovered by the Malagasy.
It is on June 12, 1973 that it is founded, succeeding the Malagasy Institute of emission and constituting a base of the economic independence desired in 1972, by the people. People whose will to have a national currency then dates more than a century, under royalty. Indeed, Prince Rakotoseheno, future Radama II, became friends with the Frenchman Lambert in 1855. He granted him a charter which must give the latter a genuine hold on the Malagasy economy. The prince, who became king in 1861, confirms the charter, which deals with the monopoly of mining, the free exportation of mining and agricultural products, the striking of a local currency, and so on.
A few years later, on June 23, 1866, Prime Minister Rainilaiarivony signed an agreement with British circles to create a Royal Bank of Madagascar, whose purpose was “to issue notes in Malagasy that the Malagasy government would accept As currency. Franco-English rivalries in 1866 had put an end to the activities of the Royal Bank “(Edilberg Razadindralambo, first president of the Supreme Court).
Subsequently, the Treaty of 17 December 1885 put an end to the first Franco-Malagasy war. The text stipulates that the Malagasy government will pay an indemnity of 10 million francs with occupation of Toamasina until the full payment of the sum. The Prime Minister, in order to obtain the evacuation of Toamasina, instructed Kingdon to negotiate a loan in London. France opposed it and had a loan borrowed from the Comptoir d’Escompte de Paris. This one introduces the first French monetary species to Madagascar the day after the law of annexation of 6 August 1896 …
The BCRM is at work in 1973, but it is also necessary that its safes shelter sufficient and constant reserves of foreign currency and gold so that the convertibility of the national currency, the FMG, is firmly guaranteed. The gold deposits of Madagascar, both alluvial and vein, are far from exhausted. This, in spite of
Of an uncontrolled skimming of the best places during the colonial era. That is why the Ramanantsoa government decides to proclaim once again that “gold is a national good that must be protected against traffickers on all sides, but also to make its exploitation more rational and therefore more Profitable, by creating tobim-panjakana, that is to say, construction sites opened on behalf of the State “(Georges Ramamonjisoa, journalist).
A few months earlier, on 21 March 1973, Major General Gabriel Ramanantsoa launched this new program at Maevatanana, where 835 kg of gold were extracted from 1887 to 1893, that is to say in six years before colonization. “We know that Maevatanana and its region are rich in gold deposits,” he said. “We will have to develop gold prospecting and mining to the maximum through village communities or Fokonolona, ​​which will have to sell their production to a single purchaser, the State.” And to continue “It is well known that foreigners put To take advantage of our poverty to buy cheap and clandestine gold from Madagascar. The State, the representative of the people, the sole owner of gold, is the only one authorized to buy it. Unlawful trafficking is illicit and will now be severely repressed. “
The first site opened for the operation is Masokoamena, in the sub-prefecture of Tsaratanàna, still in the province of Mahajanga. Its official inauguration, Monday, July 9, is symbolic. As explained by the Minister of Economy and Finance, Albert-Marie Ramaroson, the exploitation of this deposit, is the first stage of a company announced by the head of government “which will aim at the rational exploitation of wealth Of the Malagasy subsoil thanks to the work and the efforts that will enable the new restructuring of the rural world. “Because village communities are set up as social institutions with extensive powers.