The website of the Ministry of Finance, the Budget and the Public Portfolio, accessible throughwww.finances.gouv.cg was placed online on Tuesday December 27, 2016, in the conference room of the Ministry in the presence of Mr. Calixte Nganongo, Minister of Finance, Budget and Public Portfolio, Congolese monetary and financial authority.
The Extraordinary Summit of Central African Heads of State, bringing together six CEMAC countries (Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea, Chad) ended on Friday the 23 December 2016, with the reading of the Final Communiqué in which Heads of State of the sub-region express their determination to come out of the current economic crisis. Below is the Final Communiqué of this meeting.
Yaounde, the capital of Cameroon, hosted on 23 December 2016 an extraordinary summit of Heads of State of Congo, Cameroon, Gabon, Equatorial Guinea, the Central African Republic and Chad.
To finance investments undertaken between 2012 and 2016, the Congolese government has just launched a bond issue through a public offering on CEMAC financial markets. It was on December 15 in Libreville.
Calixte Nganongo, Minister of Finance, Budget and Public Portfolio, launched on Thursday 15 December 2016 a bond issue through a public offering of 150 billion CFA francs through a mobilization of investors (Road show). Launched in Brazzaville, this operation will continue in Pointe-Noire. Open from December 15 to 23, 2016, a bond issue of 10.000 CFAF is remunerated at a net 6.5% the year.
The official launching ceremony for the government bond issue, through a public offering by the Congolese government, was made on December 15, 2016 in Pointe-Noire by Calixte Nganongo, Minister of Finance, Budget and Public Portfolio in the presence of administrative officials of the public and private sector, companies, banks and the public.
On December 7 2016 in Brazzaville, Congo and the World Bank signed two funding agreements for the Brazzaville and Pointe Noire Urban Development and Restructuring Project and the Education Support Project. The documents were signed by Congolese Minister of Finance, Budget and Public Portfolio, Calixte Nganongo and the World Bank's Director of Operations for the Republic of the Congo, Ahmadou Moustapha Ndiaye.
On 2 December 2016, the Senate adopted the bill authorizing the ratification of the protocol establishing the African Monetary Fund (AMF). Objective of the Fund: To establish an African sovereign financial institution, with a view of promoting macroeconomic stability and sustainable economic growth that will facilitate the effective integration of African economies.
Despite the difficult regional and global economic conditions caused by falling commodity prices, the African Development Bank (AfDB) will continue to finance development operations in the Republic of Congo.
The Minister of Finance, Budget and Public Portfolio successively presented the 2017 draft budget and finance bill to members of Parliament and senators on November 4, 2016. This bill comprises, on one hand, a general balanced budget in income and expenditure of 2729 Billion 329 Million CFA Francs, as against 3608 Billion 729 Million CFA Francs in 2016, a 24.37% decrease, and on the other hand, a balanced State budget In income and expenditure of 2744 Billion 77 Million CFA Francs, as against 3623 Billion CFA Francs in 2016, representing a decrease of 24.26%.
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