Madagascar's New Leader Sworn In, Reaches Out to Rivals

Madagascar's new leader was sworn in Saturday after winning elections last month aimed at restoring democracy and much-needed foreign aid to the island after a 2009 coup.

Hery Rajaonarimampianina, 55, took the oath of office at a municipal stadium in the capital, calling for national unity and reaching out to political rivals to help return the Indian Ocean island nation to its past glory.

"I ask you my political family and friends, help me to promote the great destiny of national unity," he said.

"I want you to understand that it is not about us but about Madagascar, our collective future and our place."

The Canadian-educated former finance minister, who is backed by the country's former strongman Andry Rajoelina, did not mention his political rivals by name.

The man he defeated in the December 20 presidential run-off, Robinson Jean Louis, was among those present at the inauguration ceremony.

Jean Louis, the candidate backed by ousted leader Marc Ravalomanana, conceded defeat on Friday.

He told reporters that "this time, the opposition will be able to advise the state" instead of "always opposing, disrupting and marching on the streets."

International observers gave the vote the green light and called on the parties to respect the electoral process.

Donor countries have lauded the democratic transition, but cautioned that normalizing relations with Madagascar depends on the formation of a new government.

Rajaonarimampianina pledged not to launch a "witch-hunt" but warned that the era of "the culture of impunity was over."

"I am committed to a merciless fight against misappropriation of public funds, against any illicit enrichment, any racketeering or any misuse of public property," he said.

The World Bank representative in Madagascar Haleh Bridi, praised the president for a "very encouraging speech, full of hope."

The new president has a tough task ahead of kick-starting growth after the nearly five years of political crisis saw poverty increase, leaving nine out of 10 people scraping by on less than $2 a day.

The highly aid-reliant country, whose economy is based largely on textiles and tourism, lost a third of its foreign budget support after the 2009 coup.

Somehow despite the turmoil, as finance minister, Rajaonarimampianina managed to successfully oversee Madagascar's public purse, maintaining a stable local currency and fuel prices, as donors and investors fled the pariah state.

The economy grew 3.1 percent in 2012, lagging well behind most fast-growing African nations.