Trade and investments COMOROS: CF 4 billions of donation June 20, 2009
Posted by iogateway in Regional institution.Tags: donation, IMF, Trade and investments COMOROS, UNDP, world bank
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Six international agencies made a donation of 4 billions for encouraging local investments and exportation. World bank, UNDP, IMF… This donation will help the government to reduce poverty and stimulate small business sector.
How the Union of Comoros will tackle the financial crisis? June 19, 2009
Posted by iogateway in Union of the Comoros.Tags: African bank, China, European Union, IMF, reducing debts, Saudi Arabia, tackle the financial crisis, UNDP, world bank
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The comorian government will focus on:
- reducing external debts
- relaunching economic cooperation with China, European Union and UNDP
- reorganizing the public expenses and reducing the number of federal and local administrations
But the priority consists to support the invesments by extending partnership with the world bank, African bank, Saudi Arabia and IMF.
IMF accepted to give postconflict funds to the union of comorian thanks to its efforts to re-establish national and democratic authority in Anjouan. In accordance with the IMF, comorian government plans to reduce the numbers of state employees and organize the public expenses by abolishing state superstructure (federal and local).
Main figures from Exchequer department
- Internal debt : 89,46 Billions of comorian Franc (31st of december 2007)
- Bilateral debt: 3,9 billions of comorian Franc
- From 4,2 billions of comorina franc in 2005 to 5,4 billions in 2006 to reduce debts thanks to an increasing of public funds
- 70% of the state expenses are dedicated to the salary payments.
- inflation rate 4,5 % in 2008.
