FACTBOX-Key facts on Madagascar

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Fri Mar 13, 2009 10:50am EDT

 March 13 (Reuters) - Here are some key facts about
Madagascar, the world's fourth largest island, where dissident
soldiers said they deployed tanks in Madagascar's capital on
Friday.
 
 * THE ECONOMY:
 -- Traditionally, the Madagascan economy has been based on
cultivation of paddy rice, coffee, vanilla and cloves. But in
recent years there have been billions of dollars of foreign
investment by resource companies.
 -- The economy has been forecast to grow by 7.5 percent in
2009 compared to 7.1 percent in 2008. The mining, hotel and
agriculture sectors are expected to lead the expansion,
according to the finance ministry.
 -- Madagascar said in December that it planned to increase
spending in 2009 by 17 percent to 4,074 billion ariary ($2.23
billion) compared with 3,482 billion in 2008.
 
 * MINING:
 -- The global economic downturn and falling commodity prices
have shown signs of hitting the pace of mine development.
 -- Canada's Sherritt International (S.TO), has said it is
revising the plan for its Ambatovy nickel project to cut costs,
meaning it could be delayed beyond its early 2010 start date.
 -- The project is expected to yield 60,000 tonnes of nickel
and 5,600 tonnes of cobalt a year.
 -- A subsidiary of UK-based multinational Rio Tinto Plc
(RIO.AX) (RIO.L) started production of ilmenite, used to make
titanium dioxide, this month.
 -- Companies are also looking for gold, coal, chromium,
platinum and uranium. Conservationists say mining projects could
threaten the island's biodiversity.
 
 * OIL:
 -- In 2008, Houston-based Madagascar Oil said it produced
Madagascar's first oil in 60 years from an onshore project at
Tsimiroro. It estimated reserves near there of at least 1.7
billion barrels.
 -- French oil group Total (TOTF.PA) signed an agreement with
Madagascar Oil to operate the Bemolanga licence, a separate
project, with a 60 percent interest. Exxon Mobil (XOM.N) is also
investing in Madagascar's oil potential.
 
 * TOURISM:
 -- Against tough regional competition from Indian Ocean
neighbours Mauritius and the Seychelles, the island is promoting
itself as a tourism destination.
 -- Madagascar received 344,000 arrivals in 2007, increasing
to 380,000 in 2008. However, the tourist industry has warned the
crisis is likely to decimate the $390 million sector this year.
 
 * THE COUNTRY:
 AREA: 581,540 square km (224,532 sq miles), Madagascar is in
the Indian Ocean about 400 km (250 miles) off the coast of
Mozambique. It is slightly larger than France.
 POPULATION: 20 million.
 CAPITAL: Antananarivo.
 LANGUAGE: Malagasy and French are the official languages,
but Hovba and other local dialects are also spoken.
 ETHNICITY: The Malgaches, who comprise 99 percent of the
population, are of Malagasy-Afro-Indonesian origin.
 RELIGION: About half of the population professes traditional
beliefs, with 41 percent Christians and seven percent Muslims.
 (Writing by Richard Lough and David Cutler; Editing by
Charles Dick)

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