Interest rate spread (lending rate minus deposit rate, %) in Madagascar
Madagascar: Interest rate spread (lending rate minus deposit rate, %) 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 141 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 (lending rate minus deposit rate, %) 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% |
Madagascar compared with similar countries
- Madagascar's 47.9% is above the median for low income countries, which is 9.8%, 4.9× the median. (16 countries reporting)
- Madagascar's 47.9% is above the median for Sub-Saharan Africa, which is 6.2%, 7.7× the median. (37 countries reporting)
Biggest year-on-year movements
Years where Interest rate spread (lending rate minus deposit rate, %) in Madagascar changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2007 | +184.7% | 8.3% | 23.8% |
| 1995 | +95.1% | 8.8% | 17.1% |
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
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 1.28 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.9354 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 1.28 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
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 141 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.