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1 | Madagascar: Debating the Worth of Foreign Direct Investment | Madagasikara: Adihevitra Momba ny Fampiasam-bola Mivantana |
2 | While Madagascar attempts to find a way out of a prolonged political crisis, Malagasy bloggers are discussing the value of foreign direct investment (FDI). | Raha mbola eo ampitadiavana ny vahaolana ialana amin'ny krizy politika miitatra i Madagasikara, miresaka ny lanjan'ny Fampiasam-bola mivantana (FDI) kosa ny bilaogera malagasy. |
3 | The worth of foreign investment came into sharp contrast when a land deal with Korean investor Daewoo came under criticism and partly triggered the current crisis. | Tonga teo amin'ny faratampony ny adihevitra raha voatsikera indrindra indrindra ny fanofana tany tamin'ny mpampiasa vola Koreana ary vokatr'izany amin'ny ampahany ny krizy ankehitriny . |
4 | Many Malagasy believe that Madagascar, like many other African countries is rich in natural resources but that the land has been plagued by poor governance and unfair trade deals. | Maro ny Malagasy no mihevitra fa manana harena voajanahary, tahaka ny firenena Afrikana hafa, i Madagasikara, saingy potiky ny tsy fahaiza-mitantana sy ny fifanakalozam-barotra misy fanambakana. |
5 | Ten years ago, The Economist labeled Africa “The Hopeless Continent”. | Folo taona lasa izay, hita tao amin'ny The Economist fa i Afrika no ilay “Kaontinanta Tsy Misy Fanantenana”. |
6 | Their most recent publication highlights the rapid growth of many African countries‘ GDP. | Ny famoahana farany indrindra nataony indray nanasongadina ny fitomboana haingan'ny Fiharian-karem-Pirenena Faoben'ny firenena Afrikana maro . |
7 | Still, the growth is not equally felt throughout the continent. | Na izany aza, mbola tsy mitovy izany fitomboan'ny fiharian-karena izany manerana ny kaontinanta. |
8 | In fact, Madagascar is projected to have one of the lowest level of growth in all of Africa. | Ny zavamisy, vinavinaina ho anisan'ny manana fitomboan-karena iva indrindra manerana an'i Afrika i Madagasikara. |
9 | Additionally, the capital city Antananarivo and other cities are currently experiencing frequent running water and power outages that have provoked frustration and outrage [fr] among Malagasy citizens. | Ankoatra izany dia miaina fahatapahan-jiro sy rano matetika ihany koa ny ao an-drenivohitra Antananarivo sy ny tanàna hafa ka miteraka hatezerana [fr] amin'ny Malagasy. |
10 | The current situation is one of the reasons Antananarivo has been ranked as one of the cities with the lowest quality of life in the world by the Mercer's 2011 quality of living survey. | Noho ny toe-javamisy ankehitriny no antony iray mametraka an'Antananarivo ho iray amin'ny tanandehibe ratsy kalitaom-piainana indrindra maneratany araka ny fandaharana ny hatsaram-piainana 2011 notontosain'ny Mercer. |
11 | Having been marred in a lengthy political quagmire, the Malagasy blogosphere is trying to steer the debate away from a political solution to an overall debate on how to re-ignite an economy that has faltered over the past three years. | Miezaka ny mamindra ny adihevitra hiala amin'ny vahaolana politika hiditra amin'ny vahaolana Toekarena ny tontolom-bolongana Malagasy mba hampisonga indray ny toekarena tafahitsoka tao anatin'ny telo taona farany. |
12 | Evaratra in Madagascar. | Evaratra in Madagascar. |
13 | Photo credit to Lalatiana on the Madagoravox blog | Photo credit to Lalatiana on the Madagoravox blog |
14 | Making FDI work for Malagasy people | Fampahombiazana ny Fampiasam-bola Mivantana ho an'ny vahoaka Malagasy |
15 | Land deals have been discussed at length in Madagascar as a way to get out of poverty; the aborted Daewoo deal was the most publicized case but similar deals have been implemented without much hesitation or reaction. | Niadian-kevitra hatry ny ela ho lalana iray ivoahan'i Madagasikara amin'ny fahantrana ny fanofana sy ny fivarotan-tany; ny raharaha Daewoo no noresahana be indrindra saingy tsy nahitana setriny na fisalasalana kosa ny tranga mitovy aminy. |
16 | The soundness of deals related to the mineral wealth of Madagascar has been recently debated by Malagasy experts. | Niadian-kevitra teo amin'ny manampahaizana Malagasy vao haingana ny fetezana na tsy fetezan'ny fifanarahana mifandraika amin'ny harena an-kibon'ny tanin'i Madagasikara. |
17 | Blaise Stephen is working at the International Chamber of Commerce and Industry of Madagascar. | Blaise Stephen dia miasa ao amin'ny Lapan'ny Varotra (Iraisampirenena) sy ny Indostrian'i Madagasikara. |
18 | He voiced his frustration with the current status-quo in the Madagascar political system that according to him is the main roadblock preventing more bilateral cooperation with foreign investors [fr]: | Nolazainy ny likilikim-pony fa ilay rafitra politika mihitsoka eto Madagasikara no miteraka ny sakana tsy hisian'ny fiaraha-miasa bebe kokoa miaraka amin'ny mpampiasa vola vahiny [fr]: |
19 | We are currently in the process of building up a long term bilateral trading collaboration between Madagascar and Kuwait that would be beneficial for Malagasy companies. | Eo ampananganana fiaraha-miasa ara-barotra LAVITR'EZAKA misy eo amin'i Madagasikara sy i Koety izay hahazoan'ny Orinasa eto Madagasikara tombontsoa izahay izao. |
20 | The goal is to set up a loan for three billion dollars over five years with one billion available right away that could be used for high return investment activities (investment and not operational funding). | Ny tanjon'izany fiaraha-miasam-panjakana izany dia ny hahafahana mindram-bola 3 miliara dolara (na mihoatra aza) ao anatin'ny dimy taona ka azo alaina avy hatrany ny iray miliara dolara hampiasaina amin'ny asa misy tombombarotra betsaka ho an'i Madagasikara (FAMPIASAM-BOLA fa tsy fampandehanan'asa). |
21 | The negotiation is around the following line: 1) Madagascar will be borrowing at an interest rate of 3.4%… 2) the State could loan to Malagasy companies at 5.6% instead of the 18 or 20% rate currently proposed by the national banks on very short term periods. | Toy izao ny fandehan'ny fifanarahana: 1) Ny zanabola averin'i Madagasikara dia 3,4%… 2) Afaka mampindram-bola amin'ny zanabola 5,6% amin'ny orinasa eto Madagasikara ny Fitondrana ahafahana mandrava ny fomba fiasan'ny Banky eto Madagasikara izay mametraka zanabola hatramin'ny 18 na 20% ao anatin'ny fotoana fohy. |
22 | In reaction to his post, Ndimby, asks in the comment section [fr]: | Ho setrin'ity hafatra ity, manontany ao amin'ny tahalan'ny mpamaky i Ndimby, [fr]: |
23 | Why are you dreaming of an interest rate at 3,4% when you always criticize the Bretton Woods institutions who loan at 0. | Azonao azavaina ve azafady hoe nahoana ianareo no manonofy hindram-bola amin'ny zanabola 3,4% nefa tsy mitsahatra ny mitsikera ny rafi-pitantanan'i Bretton Woods izay mampindrana amin'ny zanabola 0,5% ianareo ? |
24 | 5% ? To which, Blaise Stephen replies [fr]: | Izay novalian'i [fr] Blaise Stephen tahaka izao: |
25 | The question is not to like or dislike the Bretton Woods institutions, but to judge their effectiveness in the process of economic and social development for a country like Madagascar … Remember that these institutions have pushed countries like Russia or Argentina towards bankruptcy… so one has to ask: Why an institution supposed to help the countries out of the crisis is actually helping it to sink a little more? | Tsy ny fitiavana na ny tsy fitiavana ny rafi-pitantanan'i Bretton Woods no resaka eto fa ny fahombiazany teo amin'ny fomba nampandrosoany ara-toekarena sy ara-tsosialy ny firenena tahaka an'i Madagasikara … Tadidio fa ireo rafi-pitantanana ireo no nahabankirompotra ny firenena tahaka an'i Rosia sy i Arzantina… Tokony hisy ny fanontaniana hoe: nahoana ny firenena heverina hanala ny firenena amin'ny kizo no mbola mandentika azy bebe kokoa? |
26 | […] They not only do not give you all of your loan in a lump sum but they also dare to weigh into the way we handle our national affairs… As a general rule, the role of a lender is to ensure that the debtor repays his loan properly and not to interfere in the private business of his client … These institutions not only evaluate the general policy of the States but they also give lessons in managing national affairs with a formidable weapon: the threat of of cancelling the expected payments … Strangely it always ends by the cancellation of the expected payments: so not only one cannot continue the development work, but you have to reimburse money you did not receive… This is the reason why I prefer to take a 3.4% rate knowing that the cash is readily available | […] Tsy vitan'ny hoe tsy omeny indray mandeha ny vola ampindraminy fa mbola idirany an-tsehatra ihany koa ny fampandehanan-draharaham-panjakana… Amin'ny ankapobeny, ny anjara andraikitry ny mpampindram-bola dia ny miantoka fa afa-mamerina ny volany ara-potoana ny mpindram-bola fa tsy tokony idirany ny fiainana manokan'ilay mpindram-bola … Fa ireo rafi-pintantanana ireo kosa miditra amin'ny politika ankapoben'ny Fanjakana sy manome lesona ny fomba fitantanam-panjakana ary ny fiadiana tena atahorana avy aminy dia fanafoanany ny vola andrasana avy aminy … Mahagaga fa miafara amin'ny fanafoanana ilay vola andrasana aminy hatrany izany: izany hoe tsy vitan'ny tsy afa-manohy ny asam-pampandrosoana nokendrenao ianao fa mbola mamerina ny vola tsy noraisinao akory… Aleoko noho izany misafidy ny hindrana amin'ny zanabola 3,4% rehefa fantatro fa efa vonona avy hatrany ny vola ilaina |
27 | Ndimby concludes the exchange on where the money comes from [fr]: | Nofehezin'i Ndimby amin'ny fiavian'ny vola [fr] ny resaka: |
28 | What you say can be summed up thus: money is odorless. | Ny fomba filazalazanao azy dia azo fehezina amin'ny teboka iray: tsy misy fofona ny vola. |
29 | Who cares where it comes from, for what purpose or in what context it is used as long as you pay it back “on time” without the apparent conditionalities that you seem to dread. | Tsy olana izay iaviany, ny ampiasana azy sy ny fomba ampiasana azy fa rehefa “tafaverina ara-potoana” fotsiny [..] tsy misy fepetra araka izay tadiavinao. |
30 | Still, I doubt that those loans are made out of love for humanity and are without hidden agenda. | Misalasala ihany aho hoe noho ny fitiavana ny mahaolona sy tsy misy ambadika itony fampindramam-bola itony. |
31 | A land rich in natural resources and rife with corruption | Firenena manankarena ara-boajanahary sy rendriky ny kolikoly |
32 | What Ndimby hints at is the risk of loan without conditionalities or lack of transparency on the use of investment funds. | Ny tian'i Ndimby holazaina dia mampidi-doza ihany izany findramam-bola tsy misy fepetra sy tsy mangarahara izany ny ampiasana azy. |
33 | Perspectives économiques en Afrique sums up the current economic situation [fr]: | Perspectives économiques en Afrique no mamehy ny toe-javamisy ara-toekarena ankehitriny [fr]: |
34 | The political environment is still unstable. | Tsy mbola mitombina ny tontolo politika. |
35 | In this context, the emerging countries represent an opportunity for Madagascar. | Ao anatin'izany toe-javatra izany, fanararaotra ho an'i Madagasikara ny fisian'ny mpiara-miasa misongadina. |
36 | China has not officially recognized the current government but many Chinese companies have contracted deals with the State. | Tsy mankatò ny fitondrana ankehitriny i Shina, fa mbola manasonia fiaraha-miasa aminy ny orinasa maro avy any aminy. |
37 | In 2010, Chinese group Wuhan Iron and Steel Co (WISCO) loaned $100 million USD to exploit iron mines. | Tamin'ny 2010, ny vondrona Shinoa Wuhan Iron and Steel Co (WISCO) dia nandrotsa-bola 100 tapitrisa dolara amerikana mba hitrandrahana vy [ao Soalala] . |
38 | If the mines are as vast as projected, they could invest for more than $8 billion USD which would be the largest foreign investment ever in Madagascar. | Raha midadasika araka izay antenainy ilay toeram-pitrandrahana dia mety hampiasa vola hatramin'ny 8 miliara dolara amerikana ry zareo, izay fampiasam-bola mivantana betsaka indrindra natao teto Madagasikara hatramin'izay. |
39 | In a country rife with corruption, they will have to show that they can transform this opportunity into development. | Amin'ny firenena anjakan'ny kolikoly tahaka ity firenena ity dia tsy maintsy atao izay anovana ity fanararaotra ity ho fampandrosoana. |
40 | As mentioned earlier, the lack of clear rules and structure during the current transitional period is already very conducive to all kind of corruption. | Araka ny efa voalaza etsy ambony moa dia mampiroborobo ny fanaovana kolikoly amin'ny endriny rehetra ny tsy fisiana rafitra sy fitsipika mazava ao anatin'izao tetezamita izao. |
41 | In this article, Franck R. highlights recent instances of corruption [fr]: | Ao amin'ity lahatsoratra ity i Franck R. mampivoitra ny trangana kolikoly [fr]: |
42 | In Madagascar, notably under the current transition government, we like to take our time except when it comes to getting richer […] the UNICEF cars that were confiscated, the outrageous sudden wealth of a businessman who acquired it in a few months, a building in Antanimena, major stock options in Madarail […] and he is not the only one to make money. | Eto Madagasikara, indrindra fa mandritra izao tetezamita izao, tiantsika ny maka fotoana be loatra, sy ny manangon-karena ihany koa ary haingana […] fiaran'ny UNICEF raofin'ny mpanao politika, harena mihoam-pampana mampisahotaka, ao anatin'ny volana vitsivitsy monja vitana mpanao afera eto an-toerana malaza izay nahazo tranobe miorina etsy Antanimena sy ny taratasim-bolan'i [actions] Madarail maro […] ary tsy izy ihany no manararaotra mandroaka vola mandritra ny tetezamita. |
43 | And so goes the transition. | Izay moa no fandehan'ny tetezamita. |
44 | Ndimby concludes on the link between corruption and the political crisis [fr]: | Ndimby namehy ny fifandraisana misy eo amin'ny kolikoly sy ny krizy politika [fr]: |
45 | It's because of such mentality that systematically tries to hide the reality and distract the attention from the sheer incompetence of the public funds that the crisis lingers on. | Ny toetsaina tahaka izany, izay miezaka ny manafina hatrany ny zavamisy sy manodina ny fifantohan'ny olona noho ny tsy fahalalan'ny olona tsara ny fomba fitantanam-panjakana no mampaharitra ny krizy tahaka izao. |
46 | It's because they always encourage superficiality and flashy announcements, because they always try to convince that a coup is for the betterment of the general population, and because they try to convince others that the government is supported by the people when it holds power only thanks to repression and corruption. We should not be surprised that international recognition is so hard to achieve after two years and that national unity keeps slipping away. | Noho ny fandrisihana ho amin'ny filazana antemantemaka sy ny ravindraviny fotsiny ihany; noho ny fiezahana hilaza fa asam-pamonjena ny vahoaka ny fanonganam-panjakana ; noho ny fandresen-dahatra hatrany fa tohanan'ny vahoaka amin'ny ankapobeny ilay fitondrana mifehy amin'ny alalan'ny fangejana sy ny kolikoly ; Tsy tokony hahagaga raha nikatso nihoatra ny roa taona ny fankatoavana iraisampirenena ary mibolisatra hatrany ny fampihavanam-pirenena. |
47 | Malagasy bloggers seem to come to a consensus that foreign direct investment can only be as good as the transparency that accompanies its implementation. | Tonga amin'ny marimaritra iraisana ny mpamaham-bolongana Malagasy fa rehefa mangarahara ny fizotran'ny fametrahana azy vao mitondra vokatsoa ny fampiasam-bola mivantana. |
48 | Otherwise, it's just another all too common story of wasted money that will benefit corrupt African leaders. | Raha tsy izany kosa dia lasa fandaniam-bola hahazoan'ny mpitondra Afrikana mpanao kolikoly tombontsoa hafa indray. |