Madarail's last hope is Russian
In acquiring parastatal Kraomita Madagascar (Kraoma), the Russian firm Ferrum Mining could offer a lifeline to struggling Madarail.
Antananarivo and the International Monetary Fund (IMF) both congratulated themselves on reaching an agreement on 8 June on the principle of implementing a plan for the economy until 2019. But things are far less rosy in the wings, particularly for
Entrepreneur Maminiaina "Mamy" Ravatomanga, whose business has been booming in recent years, is an unwavering supporter and unofficial adviser of transition president Andry "TGV" Rajoelina. The two men were brought together in 2008 when their respective companies were having problems as a result of fiscal investigations initiated by the entourage of the then president, Marc Ravalomanana.