Madagascar: The ghost economy of a plundered nation – Madagascar-Tribune.com

Despite its immense wealth of natural resources, Madagascar struggles to take off economically. A striking contradiction: the proliferation of millionaires and billionaires contrasting with a marginally growing GDP and an exsangue state. The reason? Potentially, a massive leak of income, insignificant taxes on multinationals and an underground economy that far exceeds the formal channels. Through a clever set of consolidated balance sheets and f…