Confusion reigns over Madagascar's economic direction. The Central Bank has just raised its key interest rate to 12.5%, ostensibly to curb inflation. Yet this move comes precisely when the government is pushing economic stimulus, encouraging investment, and easing access to credit—the stated objectives of the General State Programme. The timing is counterproductive and throws a wrench in the works. A choice had to be made between controlling inflation and the government's economic goals, but the Ministry of Economy and Finance and the Central Bank appear to be working at cross purposes. While the Central Bank has the authority to set rates, both institutions must pull in the same direction. Consultation between them could have produced a more appropriate decision with broader, longer-term vision. Many factors should have been considered in an uncertain global economic context marked by US-Iran tensions and the Russia-Ukraine war. Energy price volatility and freight costs could undermine growth and fuel inflation at any moment. Mauritius's Monetary Policy Committee, by contrast, maintained its rate at 4.75%. Admittedly, the comparison is imperfect. Mauritius, with a nominal GDP of $17.12 billion and per capita GDP of $13,812, operates in a different league. Madagascar's nominal GDP stands at $21.18 billion with per capita GDP of just $656—a vast gap. This disparity is precisely why the government prioritized economic stimulus, investment encouragement, and credit accessibility. Yet the mission seems impossible with the inevitable rise in borrowing costs, which will dampen investor enthusiasm. Without sectoral investment, growth remains illusory. The rate differential alone makes the choice clear for investors. The situation worsens with Madagascar's Doing Business ranking, energy problems, corruption, and judicial system weaknesses. Growth and investment are directly proportional. Industry suffers from financing access problems. Annual industrial exhibitions change nothing; state support ends at promises. Private sector investment is further strangled by new taxes imposed by donors to balance budgets. The private sector—the economy's true engine—finds its room to maneuver severely constrained by this policy contradiction.