All these extremely fragile and underdeveloped economies have either recently been through a civil war or are suffering from ongoing sectarian or ethnic conflicts. 

Author: Jonathan Gregson
Project Coordinator: Edith Updike

10. Madagascar

Current International Dollars:  1,505 | Click To View GDP & Economic Data

Madagascar is the fourth largest island in the world, and the average Malagsy is 42% poorer today than he or she was 50 years ago, according to the World Bank. The country has experienced repeated bouts of political instability, and in reaction to the 2009 coup foreign aid was largely suspended. Three-quarters of the population are now estimated by the UN to live on less than US$1.25 per day. With the majority of the population dependent upon agriculture for their survival, the country’s economy is especially exposed to weather-related disasters. It is expected to be one of the ten countries in the world most affected by climate change.  Prospects for economic growth are driven by the services sector, including tourism attracted by the country’s unique biosphere, and industrial materials, particularly the metal and wood industries as well as mining for precious metals.  These two factors are often at odds. According to international observers pushing for free and fair elections, the country currently lacks economic guidance.


Next-Country
left arrow
Previous Page

VIEW FULL LIST OF COUNTRY RANKINGS



 

Comments

No comments yet

Add a Comment

You must be a registered user with Global Finance Magazine to comment.

Forgot Password?