; ▁and ▁import – export ▁trade ▁and ▁sh ipping ▁were ▁brought ▁under ▁state ▁control . ▁Mad agas car ' s ▁economy ▁quickly ▁d eter ior ated ▁as ▁exports ▁fell , ▁industrial ▁production ▁dropped ▁by ▁ 7 5   percent , ▁infl ation ▁sp ik ed ▁and ▁government ▁deb t ▁increased ; ▁the ▁rural ▁population ▁was ▁soon ▁reduced ▁to ▁living ▁at ▁subs istence ▁levels . ▁Over ▁ 5 0   percent ▁of ▁the ▁nation ' s ▁export ▁re venue ▁was ▁spent ▁on ▁deb t ▁serv icing . ▁ ▁The ▁IM F ▁forced ▁Mad agas car ' s ▁government ▁to ▁accept ▁struct ural ▁adjust ment ▁policies ▁and ▁liberal ization ▁of ▁the ▁economy ▁when ▁the ▁state ▁became ▁bank rupt ▁in ▁ 1 9 8 2 ▁and ▁state - control led ▁indust ries ▁were ▁gradually ▁priv at ized ▁over ▁the ▁course ▁of ▁the ▁ 1 9 8 0 s . ▁The ▁political ▁crisis ▁of ▁ 1 9 9 1 ▁led ▁to ▁the ▁susp ension ▁of ▁IM F ▁and ▁World ▁Bank ▁assistance . ▁Cond itions ▁for ▁the ▁res umption ▁of ▁aid ▁were ▁not ▁met ▁under ▁Z af y , ▁who ▁tried ▁un success fully ▁to ▁attract ▁other ▁forms ▁of ▁re venue ▁for ▁the ▁State ▁before ▁aid ▁was ▁once ▁again ▁res umed ▁under ▁the ▁inter im ▁government ▁established ▁upon ▁Z af y ' s ▁im pe achment . ▁The ▁IM F ▁agreed ▁to ▁write ▁off ▁half ▁Mad agas car ' s ▁deb t ▁in ▁ 2 0 0 4 ▁under ▁the ▁R aval oman ana ▁administration . ▁Having ▁met