Regulatory Alerts2007-05-30
Decree No. 2007-481 on the Increase of the Capital of the Central Bank of Madagascar
Issued by the President of Madagascar on May 30, 2007, Decree No. 2007-481 increases the Central Bank of Madagascar's capital from 200 million to 111 billion Ariary through a state subscription of negotiable debt securities. The decree replaces the previously planned reserve incorporation capital increase and establishes that applicable interest rates will follow market rates, with detailed terms to be defined in a Treasury-Central Bank agreement. The Minister of Finance and Budget and the Central Bank Governor are jointly tasked with executing the decree, which is published in the Official Journal of the Republic.
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