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Tsanganasy Brico, Randrianasolo
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Social Sciences

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Perubahan Iklim dan Utang Negara: Menilai dampak kerentanan lingkungan terhadap utang luar negeri Madagaskar Tsanganasy Brico, Randrianasolo
Frequency of International Relations (FETRIAN) Vol. 8 No. 1 (2026)
Publisher : Andalas Institute of International Studies

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25077/fetrian.8.1.145-182.2026

Abstract

Madagascar is one of the most climate-vulnerable countries, facing recurrent cyclones, droughts, and floods that threaten its economic stability. This article examines why climate change contributes to the country’s rising external debt by exploring the links between environmental vulnerability, international financial mechanisms, and debt sustainability. Existing research highlights factors such as high post-disaster reconstruction costs, declining public revenues, and increased borrowing costs due to sovereign risk. However, these studies have yet to fully address how climate change structurally influences debt accumulation. Using the theory of debt accumulation, this study argues that climate-induced economic shocks weaken Madagascar’s fiscal capacity, increasing its reliance on external financing from institutions like the International Monetary Fund (IMF) and the World Bank. Through a qualitative analysis of secondary data, preliminary findings suggest that while climate finance aims to enhance resilience, it paradoxically reinforces financial dependence and limits economic sovereignty. This article calls for structural reforms to integrate climate risk into sovereign debt frameworks, contributing to discussions on sustainable financial strategies for climate-vulnerable nations.
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