Madagascar to Borrow Record $1.9 Billion in 2026 After Coup

Madagascar plans to raise 8.65 trillion ariary ($1.9 billion) next year chiefly through multilateral loans, a fifth more than it plans to borrow in the current year.

Two-thirds of the loans, or 5.84 trillion ariary, will be from concessional lenders such as the International Development Association, the African Development Bank, and the European Investment Bank, according to a draft annual financing plan. A small portion will come from commercial lenders, according to the Finance Bill.