Background
He was born on September 17,1925, at Ambositra near Fianarantsoa.
He was born on September 17,1925, at Ambositra near Fianarantsoa.
Educated at the Lycee Tananarive, then sent to Paris where he studied at the National Taxation Institute and the Institute of Higher Economic and Social Studies at the University of Paris.
Straight from graduation he joined the Treasury at Tananarive and became an inspector of taxes. He rose to be head of Group no. 4 at the Treasury. At the military take-over in May 1972 he was brought into the cabinet and given responsibility for a large number of departments from the budget to mines, co-operatives and the government printing office.
With foreign investment at a standstill, he tried to encourage more confidence in the country in order to get funds flowing in again. In November 1972 he introduced stringent exchange control regulations which reduced import-export trade almost to a trickle and led to a severe rundown of stocks. Yet he persevered with the hope of returning to a more balanced economy with an overall sense of moderation.
His commonsense in economics prevailed over the more hotheaded political arguments and delayed the government’s decision to leave the Frane zone to give the country more time to take the initial strain. Hard-line pressures, however, have forced him to introduce austerity measures.
