afrol News, 4 May - The transitional government of Madagascar under the young president Andy Rajoelina has softened its stance on the election calendar and could reverse it to a bit earlier date, African Union officials have said.

The AU officials have announced after the weekend talks in Addis Ababa that Mr Rajoelina's transitional government was prepared to hold elections by the end of the year. However not set date was given, with the officials saying there was still a lot of work to be done, especially in bringing back law and order in the Indian Ocean Island.

Initially, Mr Rajoelina's administration, which has been hit left and right by the international community, as an illegal government, had put a two year time-tabling to returning to constitutional rule.

Since taking over power after the 17 March resignation of president Marc Ravalomanana, the new administration in Madagascar has also not had a rest with the ousted president's supporters also staging ongoing protests demanding for his reinstatement.

More than 100 people have died since voilence broke out in Madagascar early this year, leading to the change of government and thereafter.

Meanwhile, Madagascar is reported to be regaining some international confidence despite a global scorn since the ousting of the constitutionally elected president.

Latest reports have pointed at some investment interests being raised with the new administration to boost the almost crippled economy by both the political and natural disasters' after-effects.

The new government has announced at the weekend a more than US$ 2 billion pledge by Saudi investors in the areas such as tourism, communications and energy.

The government said in a statement that the pledge was made following the visit by a Saudi delegation to Madagascar to explore opportunities, saying the deal would very much boost the hotel and tourism infrastructure as well as telecommunications.

Madagascar's heavily tourism dependent economy was hit a big blow by the ensuing political crisis, but even before then, the double cyclone hit also left some parts of the country crippled.

By staff writer

© afrol News

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