Interest rate spread in Madagascar
Madagascar: Interest rate spread was 47.9% in 2025. ◆ Volatile
Interest rate spread in Madagascar, 1989–2025
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in lending rate minus deposit rate, %.
Analysis
The most recent figure for interest rate spread in Madagascar is 47.9%, measured in 2025.
That represents a change of up 1.1% on the previous year and up 14.0% over ten years.
Over the whole period, interest rate spread in Madagascar peaked at 49.0% in 2014 and was at its lowest, 4.5%, in 1989.
That places Madagascar 1st out of 140 countries with data for 2025, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Interest rate spread in Madagascar, year by year
| Year | lending rate minus deposit rate, % | Change |
|---|---|---|
| 1989 | 4.5% | — |
| 1990 | 5.3% | +17.8% |
| 1991 | 5.0% | -6.1% |
| 1992 | 4.5% | -9.5% |
| 1993 | 5.7% | +25.6% |
| 1994 | 8.8% | +55.4% |
| 1995 | 17.1% | +95.1% |
| 1996 | 16.1% | -6.2% |
| 1997 | 15.9% | -0.9% |
| 1998 | 18.8% | +17.8% |
| 1999 | 16.2% | -13.8% |
| 2000 | 11.8% | -27.1% |
| 2001 | 12.2% | +3.7% |
| 2002 | 13.2% | +8.4% |
| 2003 | 12.5% | -5.8% |
| 2004 | 12.0% | -4.2% |
| 2005 | 9.5% | -20.6% |
| 2006 | 8.3% | -12.1% |
| 2007 | 23.8% | +184.7% |
| 2008 | 30.8% | +29.3% |
| 2009 | 33.2% | +8.1% |
| 2010 | 35.7% | +7.5% |
| 2011 | 41.9% | +17.2% |
| 2012 | 45.7% | +9.3% |
| 2013 | 48.8% | +6.8% |
| 2014 | 49.0% | +0.4% |
| 2015 | 42.0% | -14.3% |
| 2016 | 45.0% | +7.0% |
| 2017 | 45.0% | +0.0% |
| 2018 | 42.6% | -5.2% |
| 2019 | 36.0% | -15.6% |
| 2020 | 35.7% | -0.9% |
| 2021 | 34.5% | -3.2% |
| 2022 | 35.5% | +2.7% |
| 2023 | 40.6% | +14.5% |
| 2024 | 47.4% | +16.8% |
| 2025 | 47.9% | +1.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 4.5% | 4.5% | 4.5% | 1 |
| 1990s | 11.3% | 4.5% | 18.8% | 10 |
| 2000s | 16.7% | 8.3% | 33.2% | 10 |
| 2010s | 43.2% | 35.7% | 49.0% | 10 |
| 2020s | 40.3% | 34.5% | 47.9% | 6 |
Countries ranked near Madagascar
More financial sector data for Madagascar
- Total reserves in months of imports, annual growth rate 0.9111 % change on previous year (2024)
- Total reserves in months of imports, per unit of GDP 0 units per US$ of GDP (2024)
- Total reserves in months of imports, per capita 0 units per person (2024)
- Reserves excluding gold, foreign exchange (SDR), annual growth rate 8.96 % change on previous year (2024)
- Reserves excluding gold, foreign exchange (SDR), per unit of GDP 0.1185 SDR per US$ of GDP (2024)
- Reserves excluding gold, foreign exchange (SDR), per capita 65.22 SDR per person (2024)
- Reserves excluding gold (SDR), annual growth rate 8.84 % change on previous year (2024)
- Reserves excluding gold (SDR), per capita 66.8 SDR per person (2024)
- Total reserves (gold at market value) (SDR), annual growth rate 8.84 % change on previous year (2024)
- Total reserves (gold at market value) (SDR), per capita 66.8 SDR per person (2024)
Frequently asked questions
- What is interest rate spread in Madagascar?
- Interest rate spread in Madagascar was 47.9% in 2025, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest interest rate spread recorded in Madagascar?
- The highest recorded value was 49.0% in 2014.
- What is the lowest interest rate spread recorded in Madagascar?
- The lowest recorded value was 4.5% in 1989.
- How does Madagascar rank for interest rate spread?
- Madagascar ranks 1st out of 140 countries with data for 2025.
- Is interest rate spread rising or falling in Madagascar?
- Over the last ten years it is up 14.0%. The long-run trend across the full record is volatile.
- Where does this Madagascar data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Interest rate spread (lending rate minus deposit rate, %). Statizoid updates them automatically from the source API.
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About this data
Interest rate spread is the interest rate charged by banks on loans to private sector customers minus the interest rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.