Madagascar Finance minister quits as new currency is unveiled

Madagascar’s former Finance and Budget minister Gervais Rakotoarimanana 92nd right). RIVONALA RAZAFISON | NATION MEDIA GROUP 

Madagascar’s Finance and Budget minister Gervais Rakotoarimanana resigned on Monday as the country unveiled new currency.

The new currency unveiled by the Central Bank include, for the first ever, $6 bill (Ar20,000).

“I am no longer minister,” Mr Rakotoarimanana stated at a press conference at the Antananarivo Carlton Hotel on Monday.

He said he handed his resignation letter to President Hery Rajaonarimampianina last Friday.

The law

Mr Rakotoarimanana was not part of the government delegation that received the World Bank officials at the State House of Iavoloha on Friday.

He attributed his quit decision to what he described as 'uneasy' work conditions.

Mr Rakotoarimanana claimed that the law, transparency, integrity and mutual respect were often disregarded within the government's ranks.

The former Québec, Canada university accounting lecturer was appointed Madagascar’s Finances and Budget minister in April 2015.

Was satisfied

He said he was satisfied with what he did for his country over the last two and a half years.

Madagascar last year signed $304 million International Monetary Fund (IMF) credit facility.

Mr Rakotoarimanana's negotiations with the World Bank led to the global lender approving $86 million credit to Madagascar.

Online platforms in Madagascar were over the weekend inundated with claims of Mr Rakotoarimanana’s resignation.

President Rajaonarimampianina appealed to journalists to always confirm their stories before publication.

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