Formerly an independent kingdom, Madagascar became a French colony in 1896 but regained independence in 1960. During 1992-93, free presidential and National Assembly elections were held ending 17 years of single-party rule. In early 2009, protests over increasing restrictions on opposition press and activities resulted in Didier Ravalomanana stepping down from his presidency and it was conferred to the mayor of Antananarivo, Andry Rajoelina. Following negotiations in July and August of 2009, a power-sharing agreement with a 15-month transitional period was established, but its full implementation remains incomplete. After discarding socialist economic policies in the mid-1990s, Madagascar followed a World Bank- and IMF-led policy of privatization and liberalization. This policy has been undermined since the start of the presidential political crisis.  Agriculture, including fishing and forestry, is a mainstay of the economy, accounting for more than one-fourth of GDP and employing 80% of the population. Exports of apparel have boomed in recent years, however, Madagascar's failure to comply with the requirements of international trade agreements led to the termination of the country's duty-free access in January 2010. Deforestation and erosion, aggravated by the use of firewood as the primary source of fuel, are serious concerns. The current political crisis which began in early 2009 has dealt additional blows to the economy.