IBOV 166,608.52 ▼ 0.57% IPC MEX 70,819.80 ▲ 0.91% MERVAL 2,848,945 — — USD/BRL5.49▲ 0.53% USD/MXN18.78▲ 0.85% USD/CLP977.94▲ 1.18% USD/COP3,231▼ 0.60% USD/PEN3.45▲ 0.10% USD/ARS1,545▼ 0.19% USD/UYU40.22▲ 3.24% USD/PYG6,031▲ 4.22% USD/BOB11.94▲ 1.91% USD/DOP60.57▲ 0.12% USD/CRC449.63▲ 2.27% USD/GTQ7.64▲ 3.17% USD/HNL26.87▼ 0.09% USD/NIO36.62▲ 0.07% USD/VES892.65▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.79▲ 2.67% USD/TTD6.64▲ 1.14% EUR/BRL6.16▲ 0.28% BRENT 98.02 ▲ 3.59% WTI 90.35 ▲ 2.53% IRON ORE 161.91 — — COPPER 6.23 ▼ 2.64% GOLD 4,110 ▲ 0.92% SILVER 52.29 ▲ 0.32% SOY 1,190 ▼ 0.29% CORN 440.75 ▼ 0.79% WHEAT 599.25 ▲ 0.13% COFFEE 277.40 ▼ 0.84% SUGAR 18.60 ▲ 0.70% ORANGE JUICE 136.15 ▲ 3.54% COTTON 78.45 ▲ 0.44% COCOA 5,290 ▼ 3.04% BEEF 214.48 ▼ 1.62% CATTLE 320.58 ▼ 3.45% LITHIUM 60.38 ▼ 2.42% PETR4 46.49 ▼ 1.34% VALE3 62.96 ▲ 0.98% ITUB4 39.87 ▲ 0.40% BBDC4 13.87 ▼ 1.35% ABEV3 15.47 ▲ 1.44% BBAS3 16.48 ▼ 0.06% B3SA3 14.26 ▼ 0.28% WEGE3 47.93 ▼ 4.24% PRIO3 62.70 ▲ 0.90% SUZB3 52.07 ▼ 0.53% RENT3 29.33 ▼ 0.44% AZZA3 14.23 ▲ 1.86% CSAN3 2.53 ▲ 5.86% RAIZ4 27.57 ▲ 1.73% PCAR3 2.37 ▲ 3.04% GMAT3 3.63 ▲ 2.83% PSSA3 43.71 ▼ 2.63% CVCB3 0.81 — 0.00% POSI3 3.17 — 0.00% SLCE3 16.36 ▼ 1.45% NATU3 5.37 ▼ 0.92% BRKM5 3.03 ▼ 0.66% RANI3 8.50 ▼ 1.51% CSNA3 4.14 ▲ 1.47% IBOV 166,608.52 ▼ 0.57% IPC MEX 70,819.80 ▲ 0.91% MERVAL 2,848,945 — — USD/BRL 5.49 ▲ 0.58% USD/MXN 18.75 ▲ 0.70% USD/CLP 977.94 ▲ 1.18% USD/COP 3,231 ▼ 0.60% USD/PEN 3.44 ▼ 0.05% USD/ARS 1,545 ▼ 0.19% USD/UYU 40.22 ▲ 3.24% USD/PYG 6,031 ▲ 4.22% USD/BOB 11.94 ▲ 1.91% USD/DOP 60.57 ▲ 0.12% USD/CRC 449.63 ▲ 2.27% USD/GTQ 7.64 ▲ 3.17% USD/HNL 26.87 ▼ 0.09% USD/NIO 36.62 ▲ 0.07% USD/VES 892.65 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.79 ▲ 2.67% USD/TTD 6.64 ▲ 1.14% EUR/BRL 6.16 ▲ 0.30% BRENT 98.02 ▲ 3.59% WTI 90.35 ▲ 2.53% IRON ORE 161.91 — — COPPER 6.23 ▼ 2.64% GOLD 4,110 ▲ 0.92% SILVER 52.29 ▲ 0.32% SOY 1,190 ▼ 0.29% CORN 440.75 ▼ 0.79% WHEAT 599.25 ▲ 0.13% COFFEE 277.40 ▼ 0.84% SUGAR 18.60 ▲ 0.70% ORANGE JUICE 136.15 ▲ 3.54% COTTON 78.45 ▲ 0.44% COCOA 5,290 ▼ 3.04% BEEF 214.48 ▼ 1.62% CATTLE 320.58 ▼ 3.45% LITHIUM 60.38 ▼ 2.42% PETR4 46.49 ▼ 1.34% VALE3 62.96 ▲ 0.98% ITUB4 39.87 ▲ 0.40% BBDC4 13.87 ▼ 1.35% ABEV3 15.47 ▲ 1.44% BBAS3 16.48 ▼ 0.06% B3SA3 14.26 ▼ 0.28% WEGE3 47.93 ▼ 4.24% PRIO3 62.70 ▲ 0.90% SUZB3 52.07 ▼ 0.53% RENT3 29.33 ▼ 0.44% AZZA3 14.23 ▲ 1.86% CSAN3 2.53 ▲ 5.86% RAIZ4 27.57 ▲ 1.73% PCAR3 2.37 ▲ 3.04% GMAT3 3.63 ▲ 2.83% PSSA3 43.71 ▼ 2.63% CVCB3 0.81 — 0.00% POSI3 3.17 — 0.00% SLCE3 16.36 ▼ 1.45% NATU3 5.37 ▼ 0.92% BRKM5 3.03 ▼ 0.66% RANI3 8.50 ▼ 1.51% CSNA3 4.14 ▲ 1.47%
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Thursday, November 5, 2026

Madagascar Africa

Madagascar Court Allows Constitution Vote

By · November 5, 2026 · 4 min read
Aerial view of Antananarivo, the capital of Madagascar, with a lake and a stadium
Antananarivo, the capital of Madagascar. File photo: Rio Times archive.
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MADAGASCAR · POLITICS

Key Facts

  • The country Madagascar, an island nation of about 32 million people, is run by a military-led transition.
  • What happened The High Constitutional Court ruled on Wednesday 4 November 2026 that a referendum can come first.
  • The sequence A referendum on the constitution would precede the presidential election promised for 2027.
  • The gap No referendum date or election date has been set.

Madagascar’s High Constitutional Court, the country’s top constitutional body, ruled on Wednesday 4 November 2026 that the country may hold a referendum on a new constitution before it elects a president. The ruling, requested by transitional President Colonel Michael Randrianirina, sets the order of steps in the military-led transition.

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For US readers, the decision shapes how soon a stable, elected government returns to a country that exports nickel, cobalt and graphite. Our report on the US envoy’s minerals talks gives more background.

What the Court Decided

The High Constitutional Court said that holding a referendum to change the constitution before the presidential vote does not conflict with constitutional provisions. It added that putting several alternative options to voters is possible.

The ruling is an opinion on legality, not a calendar. The authorities must still set the dates and the ballot questions.

Randrianirina asked the court for the opinion. He has promised to hold a presidential election in 2027, and no date for either vote has been announced.

Rice terraces in the central highlands of Madagascar
Rice terraces in Madagascar’s central highlands. File photo: Rio Times archive.

How the Military Took Power

Randrianirina has led Madagascar since 17 October 2025. He took power after the army stepped in following large popular protests that ousted elected President Andry Rajoelina.

The colonel pledged to hold elections within 24 months. Madagascar’s current constitution dates from 2010, adopted after a 2009 crisis in which soldiers joined a popular movement and removed another president, Marc Ravalomanana.

Why the Order Matters

Holding a referendum first means voters would decide the rules of the state before they choose who runs it. A referendum first could let the winner of the presidency govern under settled rules.

Whether the process will be seen as fair is an open question. The court’s opinion answers only whether the order is legal, not whether it is wise.

What Voters May Be Asked

Public and political consultations took place earlier this year, and Randrianirina is due to present their results on Monday 9 and Tuesday 10 November 2026. Young Malagasy people gave strong attention to a proposal for a federal state during the August consultations.

Another scenario keeps a single unitary state but gives regions wide powers. Which options reach the ballot is not yet decided.

What It Means for You

If you invest in or buy from Madagascar, from vanilla and cloves to nickel and graphite, a clear path to elections lowers political risk. A long or disputed referendum process could do the opposite.

Travelers should follow official advice, as protests have marked the past year. US companies in the minerals sector will watch which constitution voters choose and who writes it.

Why Madagascar Matters to the US

Madagascar is a leading world supplier of vanilla and also exports nickel, cobalt and graphite. American buyers of food flavourings and battery materials depend partly on stable policy in Antananarivo.

Our guide to Madagascar’s role in Africa explains its alliances. A clear election timetable would help foreign investors judge the risks.

What Is Not Known

It is not known when the referendum will be held or what the questions on the ballot will be. Earlier plans pointed to mid-2027, with the election commission naming June and the president naming July, but no date is fixed.

It is also unclear whether opposition parties and the youth movement that led the protests will accept the process. The court’s opinion answers only whether the order is legal.

Frequently Asked Questions

What Did Madagascar’s High Constitutional Court Decide?

The High Constitutional Court ruled that a referendum on changing the constitution before the presidential vote is not against constitutional provisions. It also said offering several options is possible.

When Will the Referendum Be Held?

No date has been announced. Randrianirina is due to present the consultation results on Monday 9 and Tuesday 10 November 2026.

When Is the Presidential Election?

The military-led authorities have promised it for 2027, within 24 months of the 17 October 2025 takeover. No exact date has been published.

Who Is Michael Randrianirina?

He is the colonel who leads Madagascar’s transition. He took power on 17 October 2025 after protests ousted President Andry Rajoelina.

Sources: Presidency of Madagascar, transition roadmap and statements of President Michael Randrianirina, 2026; High Constitutional Court of Madagascar, opinion on the referendum, 4 November 2026; National Assembly of Madagascar (parliament), 2026.


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