• Short Summary

    Malagasy's Minister of Finance, Monsieur Ra Kotovao-Razakaboana, has outlined a new economic programme for the nation.

  • Description

    Malagasy's Minister of Finance, Monsieur Ra Kotovao-Razakaboana, has outlined a new economic programme for the nation. One of his major proposals involves the restructure of the country's banking system.

    SYNOPSIS: The Minister of Finance held a news conference in Antananarivo, the capital, to outline his new reform plan. Since the strong leftist government came to power two years ago after the assassination of President Riciard Ratsimandrava, a policy of state ownership has been in force. The nationalisation of banks, insurance and natural resources were quick to come into effect. In a referendum adopted in 1975, the people of this Indian Ocean nation overwhelmingly endorsed a programme which aimed to turn the country on "the path of socialist salvation", according to the government. An intense nationalisation programme was established to solve the country's grave economic problems.

    But, according to the Finance Minister, the nationalisation plan after the referendum was "not socialist". He said the state take-overs had not affected the majority of the population, and only a few were profiting from the agricultural reforms.

    In order to solve the problem, from now on, the banks will be more specialised. There will be three different banks. One will control agricultural production, another will cover industrial affairs and a third will involve commercial activities. The first two have already been in operation on a provisional basis since the beginning of the

  • Tags

  • Data

    Film ID:
    VLVADSO46D8SHOZXAC5VAGQR3RCJX
    Media URN:
    VLVADSO46D8SHOZXAC5VAGQR3RCJX
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    26/01/1977
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:17:00
    Time in/Out:
    /
    Canister:
    N/A

Comments (0)

We always welcome comments and more information about our films.
All posts are reactively checked. Libellous and abusive comments are forbidden.

Add your comment