Madagascar finance minister resigns over lack of govt support

July 17, 2017 6:27 PM

Finance minister Gervais Rakotoarimanana has stepped down over political differences between the president and himself.

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The Finance minister of Madagascar Gervais Rakotoarimanana has announced his resignation as a result of what he calls "lack of support and differing points of view".

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Rakotoarimanana did not identify who was behind the rift, however media reports say, he resigned over differences between him and the president, Hery Rajaonarimampianina.

He explains that he submitted his resignation to the president on Friday, blaming a “lack of support” for his decision to quit.

Addressing the press, he said "there was also a different point of view and difference between methods of work".

Recent statements made by the International Monetary Fund said the Indian Ocean island state’s economy has been struggling with a drought and the destruction caused by a severe cyclone.

Madagascar has a record of being is one of the world’s poorest countries, even though it can boast of reserves such as nickel, cobalt, gold, uranium and other minerals.