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20 Ariary motto C
| Issuer | Madagascar |
|---|---|
| Year | 1999 |
| Type | Log in to see details |
| Value | Log in to see details |
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| Composition | Log in to see details |
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| Diameter | Log in to see details |
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| Shape | Decagonal (10-sided) |
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| Obverse description | Central field displays the denomination '20' in large numerals below the word 'ariary' in lowercase Latin script, all enclosed within a three-quarter laurel and olive wreath open at the base. A five-pointed star surmounts the value at the top of the wreath. The date 1999 appears in the exergue below the wreath, flanked by decorative arrow motifs. The circular legend 'REPOBLIKAN'I MADAGASIKARA' runs along the periphery of the decagonal flan. |
|---|---|
| Obverse script | Latin |
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| Additional information |
The KM#24.2 variety is distinguished from KM#24.1 by a revised motto positioning on the reverse — a minor but catalogued die difference that matters for type completeness. Madagascar's ariary coinage of this period was produced under chronic fiscal strain; the IMF structural adjustment programs of the 1990s severely constrained the government's monetary flexibility, and nickel clad steel replaced more expensive compositions partly as a direct cost-reduction measure. The Central Bank, Banky Foiben'i Madagasikara, had limited control over minting contracts, with production largely outsourced to foreign facilities.