Real interest rate in Madagascar
Madagascar: Real interest rate was 47.6% in 2025. ◆ Volatile
Real interest rate in Madagascar, 1989–2025
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in %.
Analysis
In 2025, real interest rate in Madagascar stood at 47.6%.
Compared with earlier readings it is down 2.7% on the previous year and up 1.0% over ten years.
Over the whole period, real interest rate in Madagascar peaked at 52.4% in 2017 and was at its lowest, -9.6%, in 1995.
That places Madagascar 2nd out of 149 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.
Real interest rate in Madagascar, year by year
| Year | % | Change |
|---|---|---|
| 1989 | 12.1% | — |
| 1990 | 12.5% | +2.7% |
| 1991 | 15.6% | +25.2% |
| 1992 | 9.1% | -41.6% |
| 1993 | 14.2% | +56.4% |
| 1994 | -7.7% | -154.1% |
| 1995 | -9.6% | +24.3% |
| 1996 | 13.1% | -237.1% |
| 1997 | 24.7% | +88.2% |
| 1998 | 19.6% | -20.8% |
| 1999 | 18.7% | -4.4% |
| 2000 | 13.7% | -26.7% |
| 2001 | 16.3% | +18.8% |
| 2002 | 7.5% | -53.9% |
| 2003 | 26.4% | +251.5% |
| 2004 | 9.3% | -64.7% |
| 2005 | 6.3% | -31.8% |
| 2006 | 15.7% | +147.3% |
| 2007 | 27.2% | +73.2% |
| 2008 | 34.0% | +24.9% |
| 2009 | 35.2% | +3.8% |
| 2010 | 32.5% | -7.9% |
| 2011 | 38.2% | +17.5% |
| 2012 | 48.0% | +25.9% |
| 2013 | 50.8% | +5.7% |
| 2014 | 49.9% | -1.7% |
| 2015 | 47.1% | -5.5% |
| 2016 | 46.8% | -0.6% |
| 2017 | 52.4% | +11.9% |
| 2018 | 43.5% | -17.1% |
| 2019 | 39.9% | -8.3% |
| 2020 | 42.7% | +7.1% |
| 2021 | 39.5% | -7.4% |
| 2022 | 35.6% | -10.0% |
| 2023 | 41.6% | +16.9% |
| 2024 | 48.9% | +17.6% |
| 2025 | 47.6% | -2.7% |
Madagascar compared with similar countries
- Madagascar's 47.6% is above the median for low income countries, which is 7.3%, 6.5× the median. (19 countries reporting)
- Madagascar's 47.6% is above the median for Sub-Saharan Africa, which is 4.9%, 9.7× the median. (39 countries reporting)
Biggest year-on-year movements
Years where Real interest 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 |
|---|---|---|---|
| 2003 | +251.5% | 7.5% | 26.4% |
| 1996 | +237.1% | -9.6% | 13.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 12.1% | 12.1% | 12.1% | 1 |
| 1990s | 11.0% | -9.6% | 24.7% | 10 |
| 2000s | 19.2% | 6.3% | 35.2% | 10 |
| 2010s | 44.9% | 32.5% | 52.4% | 10 |
| 2020s | 42.7% | 35.6% | 48.9% | 6 |
Countries ranked near Madagascar
- 1 Iraq 57.6% compare
- 3 Brazil 37.5% compare
- 4 Tajikistan 19.2% compare
- 5 Mozambique 18.7% compare
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 real interest rate in Madagascar?
- Real interest rate in Madagascar was 47.6% in 2025, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest real interest rate recorded in Madagascar?
- The highest recorded value was 52.4% in 2017.
- What is the lowest real interest rate recorded in Madagascar?
- The lowest recorded value was -9.6% in 1995.
- How does Madagascar rank for real interest rate?
- Madagascar ranks 2nd out of 149 countries with data for 2025.
- Is real interest rate rising or falling in Madagascar?
- Over the last ten years it is up 1.0%. 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 Real interest rate (%). Statizoid updates them automatically from the source API.
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About this data
An interest rate is the amount charged, expressed as a percentage of the principal over a period of time, by the owners of certain kinds of financial assets for putting the financial assets at the disposal of another institutional unit. The real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability. This indicator is expressed as a percentage (a÷b)*100.