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Madagascar, previously known as the Malagasy Republic, is the fourth largest island in
the world; one of the most known Third World Countries. This island is located in the Indian
Ocean off the coast of Southern Africa, with a population of 22.92 million. Like most African
countries, Madagascar is considered a developing country.
Madagascar has a number of major natural resources, such as coal, salt, quartz, tar sands,
graphite, chromite, mica, fish and hydropower. However, the country is largely dependent on
their exportation of agriculture goods --coffee, vanilla, sugarcane, cloves, cocoa, rice, bananas,
peanuts, and also extensive fishing. Majority of the population depend on subsistence farming,
largely rice and cattle. Madagascar is one of the world’s poorest countries with an average
income being, $260. About 70% of its population is living below the poverty line, while the
average Malagasy makes around $1 US per day. The Malagasy ariary is the currency of
Madagascar. One US dollar equals 9.150.46 Malagasy Franc
