{"id":111842,"date":"2026-06-04T00:00:00","date_gmt":"2026-06-03T21:00:00","guid":{"rendered":"https:\/\/www.capmad.com\/news\/%news-category%\/letat-malgache-fixe-un-plafond-dendettement-exterieur-pour-2026\/"},"modified":"2026-06-04T18:01:40","modified_gmt":"2026-06-04T15:01:40","slug":"letat-malgache-fixe-un-plafond-dendettement-exterieur-pour-2026","status":"publish","type":"news","link":"https:\/\/www.capmad.com\/fr\/news\/economie-fr\/letat-malgache-fixe-un-plafond-dendettement-exterieur-pour-2026\/","title":{"rendered":"L\u2019\u00c9tat malgache fixe un plafond d\u2019endettement ext\u00e9rieur pour 2026"},"content":{"rendered":"

Encadrer la politique d\u2019endettement du pays<\/b><\/h2>\n

Dans le cadre du Projet de Loi de Finances Rectificative (PLFR) 2026, l\u2019\u00c9tat malgache a d\u00e9cid\u00e9 de limiter son recours aux financements ext\u00e9rieurs \u00e0 un plafond de 12 759 milliards d\u2019ariary.<\/b><\/p>\n

Cette mesure vise \u00e0 encadrer la politique d\u2019endettement du pays tout en garantissant les ressources n\u00e9cessaires au financement des projets de d\u00e9veloppement et des d\u00e9penses publiques.<\/p>\n

Selon les dispositions pr\u00e9sent\u00e9es par le gouvernement, ce montant repr\u00e9sente la somme maximale que Madagascar pourra emprunter aupr\u00e8s de partenaires \u00e9trangers, notamment les institutions financi\u00e8res internationales telles que la Banque mondiale, le Fonds mon\u00e9taire international (FMI) ou encore la Banque africaine de d\u00e9veloppement (BAD).<\/p>\n

Parall\u00e8lement, le plafond de l\u2019endettement int\u00e9rieur a \u00e9t\u00e9 fix\u00e9 \u00e0 3 000 milliards d\u2019ariary. Ces emprunts domestiques sont g\u00e9n\u00e9ralement contract\u00e9s sur le march\u00e9 financier national \u00e0 travers les banques locales et les \u00e9missions de titres du Tr\u00e9sor.<\/p>\n

Les autorit\u00e9s soulignent que la dette ext\u00e9rieure de Madagascar demeure majoritairement constitu\u00e9e de pr\u00eats concessionnels, accord\u00e9s \u00e0 des conditions avantageuses avec des taux d\u2019int\u00e9r\u00eat faibles et des \u00e9ch\u00e9ances de remboursement longues. \u00c0 la fin de l\u2019ann\u00e9e 2025, l\u2019encours de la dette ext\u00e9rieure du gouvernement central \u00e9tait estim\u00e9 \u00e0 plus de 27 400 milliards d\u2019ariary, soit environ 6,18 milliards de dollars. Plus des deux tiers de cette dette sont d\u00e9tenus par des partenaires multilat\u00e9raux.<\/p>\n

Cette strat\u00e9gie s\u2019inscrit dans une volont\u00e9 de pr\u00e9server la soutenabilit\u00e9 des finances publiques tout en poursuivant les investissements dans les infrastructures, l\u2019\u00e9nergie, les transports et les services sociaux. Bien que le recours aux financements ext\u00e9rieurs reste indispensable pour soutenir la croissance \u00e9conomique, le gouvernement cherche \u00e0 maintenir le risque de surendettement \u00e0 un niveau jug\u00e9 mod\u00e9r\u00e9 par les institutions financi\u00e8res internationales.<\/p>\n

L\u2019enjeu pour Madagascar sera d\u00e9sormais de trouver un \u00e9quilibre entre les besoins de financement du d\u00e9veloppement et la ma\u00eetrise de sa d\u00e9pendance vis-\u00e0-vis des bailleurs internationaux.<\/p>\n","protected":false},"excerpt":{"rendered":"

Encadrer la politique d\u2019endettement du pays Dans le cadre du Projet de Loi de Finances Rectificative (PLFR) 2026, l\u2019\u00c9tat malgache a d\u00e9cid\u00e9 de limiter son recours\u2026<\/span><\/p>\n","protected":false},"author":76,"featured_media":111844,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"tags":[],"news-category":[7989],"news-location":[7990],"class_list":["post-111842","news","type-news","status-publish","format-standard","has-post-thumbnail","hentry","news-category-economie-fr","news-location-madagascar-fr"],"acf":[],"yoast_head":"\nL\u2019\u00c9tat malgache fixe un plafond d\u2019endettement ext\u00e9rieur pour 2026<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" 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