Central African Republic’s Pesident François Bozizé Monday cancelled a 45 billion-FCFA bond loan
Posted by africanpress on June 12, 2007
Bangui (Central African Republic) Central African Republic’s Pesident François Bozizé Monday cancelled a 45 billion-FCFA bond loan his country had issued onto the financial market of the Central African Economic and Monetary Community (CEMAC), while pursuing consultations with donors for other sources of funds, APA learns here.
Addressing the celebration of the second anniversary of his accession to power, the head of state called upon the international community to urgently support his country with additional funds.
According to Bozizé, the financial assistance, alongside his government’s efforts, could contribute in improving his country’s financial situation.
Last Wednesday, the International Monetary Fund (IMF) commanded the country to give up the bond issue, saying it would bar the completion of the first review of the Poverty Alleviation and Growth Facility (PAGF) agreement.
The bond issue would notably delay the Highly Indebted Poor Countries Initiative (HIPC) completion point slated for September-October 2007, the Bretton Woods institution said.
According to the IMF, the issuing of the bond loan under the market conditions – an 8% interest rate, a five-year maturity date and no grace period – is incommensurate with the government’s commitments as part of the PAGF, which was approved by the IMF executive board in December 2006.
On security matters, President Bozizé also announced the redeployment of troops upcountry, namely in the prefectures of Haut Kotto (Bria), Nana Gribizi (Kanga Bandoro) and Ouham Pendé (Bozoum).
Military barracks will also be set up in the Prefectures of Ouham Pendé (Paoua), Bamingui Bangoran (Ndélé), Vakaga (Birao and Haut MBomou (Boki), Bozizé said, adding that “the objective is to cover the whole country with 24 barracks”.
Concerning the ongoing political dialogue in CAR, the president expressed wish to see its swift completion in accordance with the constitution for the citizens to live in peace and security in their country.
Published by African Press in Norway(APN/ African Press International(API) Source.Apa
