Madagascar: Central Bank Chief resigns, successor named

Madagascar: Central Bank Chief resigns, successor named

Henri Rabarijohn, the governor of Madagascar’s Central Bank (BFM)) has stepped down from his position on health conditions ground.

President Andry Rajoelina has accepted the resignation of Rabarijohn who, according to a statement from the cabinet, stepped down due to health issues and wants to leave the country for treatment abroad.

The Malagasy leader appointed Aivo Handriatiana Andrianarivelo to replace Rabarijohn, the Bank’s board of directors having urged President Rajoelina to appoint a new governor as soon as possible because the position is “strategic” and cannot be left unfilled.

The new Governor is a former executive manager of the International Monetary Fund (IFM).

Prior to joining the Washington-based institution, Andrianarivelo held several state positions including the command of the country’s privatization fund from 2008 to 2020.

Rabarijohn was appointed in 2019 and his one-time renewable mandate was expected to end in 2024.

Reports in the African country alleged that Rabarijohn’s resignation was in the pipeline and the reason behind the delay in the salary payment for civil servants in December.

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