Public Debt Settlement : Payments To Be Completed This Week
The Director General of the Treasury, Financial and Monetary
Cooperation, explains how the exercise is being carried out, noting that
other State debts will be progressively cleared.
Moral and physical persons being owed by the State in 2016 and
previous financial years have begun receiving payments following the
disbursement of FCFA 32,457,198,527 to clear domestic debts and other
financial commitments of the State. The payment exercise
which started
on Thursday April 5, is expected to round off this week, the Director
General of the Treasury, Financial and Monetary Cooperation, Sylvester
Moh Tangongho said.
Going by the Director General, after an audit, the country’s unpaid
internal debts and other financial commitment stood at FCFA 176 billion
as of 2016. Bills worth FCFA 6 billion are explained to have been
rejected due to some irregularities. Of the FCFA 176 billion, Moh
Sylvester said FCFA 32 billion debt was considered as pressing while the
remaining amount are counterpart funds which will be sent to the
Autonomous Sinking Fund for handling.
According to Moh Sylvester, the operation which is the first in a
series will continue in the days ahead. The Director General noted that
government has often respected the 60 day period in the payment of bills
but not in recent times due to economic hardship. However, he noted
that a payment programme has been put in place to gradually make up for
the delay recorded in the payment of bills of service providers to the
State and its ramifications as regards outstanding amounts to be paid
counting for the 2017 financial year.
The Director General told reporters payments are being done in
treasury stations directly into the respective bank accounts of
beneficiaries. “The beneficiaries do not have to come to us or process
any document. They will receive their money directly into their
accounts,” Moh said, insisting the cash was readily available.
He disclosed that the intention of government to disburse payment is
to revive economic activities and build confidence. He said the funds
are expected to act in favour of safeguarding and creating jobs,
reopening sites where work had come to a standstill as well as making it
possible to generate tax revenue for the State.
Commentaires
Enregistrer un commentaire