Politique

National Assembly: Non-concessional Loans Ordinance Bill Examined

Par Aureline MELI (Intern)
13 juin 2017 08:17
0 Likes

The Minister of Finance, Alamine Ousmane Mey in the Committee on Finance and Budget of the National Assembly defended the bill to ratify the Ordinance No. 2017/1 of 17 May 2017 to amend and supplement some provisions of Law N0 2016/18 of 14 December 2016: Finance Law of the Republic of Cameroon for the 2017 financial year. This was in the presence of the Minister of Public Service and Administrative Reform, Michel Ange Angouin who represented the Vice Prime Minister, Minister Delegate at the Presidency in charge of Relations with the Assemblies, Amadou Ali.
Government explains that under the ordinance, the amount of non-concessional loans which was authorised to conclude during the 2017 financial year increased from FCFA 500 billion to FCFA 1,200 billion. The Finance Minister explained that the ceiling for concessional loans which was fixed at FCFA 500 billion remains unchanged. The reason for signing the ordinance, government stated, is that to date, the ceiling of FCFA 1,000 billion for concessional and non-concessional loans fixed under the 2017 Financial Law was almost reached, whereas, at the same time, files under review, already approved by the National Public Debt Committee (NPDC), stood at FCFA 607.78 billion. This comes to add to the loans under negotiation for projects relating to the hosting of the 2019 AFCON, that is about FCFA 130 billion. The signing of the ordinance therefore, enables the government to remove the constraints and execute the development projects scheduled for the 2017 financial year.

Alamine Ousmane Mey: “Our Debt Level Is Sustainable”

Minister of Finance