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.
IMF-Comoros: spreading FC 96 billions of debts June 20, 2009
Posted by iogateway in Union of the Comoros.Tags: ADB, IMF, world bank
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IMF-Comoros: spreading 96 billions of debts
According to the comorian government, IMF is working to spread or cancel 96 billions of debts. The union of comoros must follow up recommendations from world bank, IMF and ADB such as reducing public employment and allocate the funds to develop national infrastructure.
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.
How to stimulate investment in Comoros? May 24, 2009
Posted by iogateway in Investor Guide, Research development innovation.Tags: bilateral, business law, COMESA, comorian legislation, investment in comoros, investors, NAPIC, OHADA, world bank
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How to stimulate investment in Comoros by Youssouf BOINA lawyer
Younoussa Boina suggests to extend Investment in Comoros package laws by bringing up two major development axes:
- continuing to sign up international agreements with COMESA, OHADA in order to integrate local business laws to internationl standards.
- reinforcing national legislation dedicated to business laws.
All bone of contention must be solved and guaranteed by the both. He notes that amoung the major benefits of the investment package laws we can discern: freedom on establishing or setting up companies and freedom on choosing sectors. He insists that all investments must be accurated with all international and bilateral agreements and comorian legistlation regarding ( laundering of money, struggling against crime) . He supports the national agency for promoting investment in comoros – NAPIC. By the way he insistes to controll the NAPIC by avoiding too much collateral red tap. He would encourage more incentives for the free taxes zones where development of employment seems be strategic such as tourism, fishing industry and agriculture according to the world bank recommendations.
In other hand encouraging joint venture by associating local entrepreneurs and foreign entrepreneurs. Superimposition of three legal sources: french, indigenous and islamic must be logical with bilateral-international-local legislation. In conclusion, the lawyer suggests to complete business laws by reassuring investors in case of legal dispute which juridiction will be capable to mediate.
