3-4 The Money Market (MM)
The money market is one two (2) compartments with the interbank market of securities. Economic recovery of the Covenant by Presidential sectoral development of the real economy can not be achieved without reforming the banking and financial system of the country of the interbank market is the chest and money market's heart.
Unfortunately this vision of the financial thing is not shared by everyone. However, it is common to see a particular Bangui buyer out of his pocket or her handbag''Businessmen BA Ngui''wads of banknotes to buy a 4 / 4 combined 55 voire 60 millions de f Cfa sans que l’autorité publique ou bancaire ne lève le petit doigt. S’est-on posé la question de savoir d’où vient cet argent ? Non ! Il en est de même dans la zone d’activité économique où la circulation monétaire n’est pas sous contrôle de l’autorité bancaire voire tout le commerce dans l’arrière pays. Dans cette économie où seul le franc Cfa doit circuler, le commerçant sur le sol national s’autorise l’échange des ses marchandises contre devises notamment l’euro. Alors on peut se demander à quel dessein ? Le change s’effectue hors système, au marché central de Bangui ou said crafts market, with the full knowledge of the whole world and nobody cares. Trade credit is almost over and bank credit is available only to those who do not pay.
Never mind! These financial institutions have always refused to grow their network in the country to assist investors to justify their position they evoke insecurity in the hinterland as if Bangui is the most secure part of our CAR. What is surprising is that the risk of the banker does not exist in the country while B BOGANDA ces banques couvent des conventions d’établissement en OR CENTRAFRICAIN où tout y passe : boulevard fiscal tant pour l’établissement que pour l’encadrement expatrié, l’encadrement national sous payé et sans promotion professionnelle sinon très rarement, pas de sanction pour l’inobservation des clauses conventionnelles, propriétaires des murs à vil prix, refus délibéré de réaliser les objectifs d’intérêt centrafricain dument retenus dans les conventions d’établissement, développement des crédits communautaires au détriment de leur cible à financer clairement définie dans la convention, choix capitalistique financier contre the development agenda of their national network.
Fortunately in this bleak financial landscape has been depicted there are two different exceptions that prove the rule. Crédit Mutuel Centrafricain which has forged its national network where other pretext of insecurity and Eco Bank, which is more innovative financial products, banking and technology. Thank you to the CMCA and Eco Bank, which have adapted to the economic environment of our country for their product portfolios and all the innovations that provide quality and satisfaction to the Central Emergency. I urge them to push further competition, the Presidential Pact will provide.
The currency is a curiosity thing scares in the country B. BOGANDA the point of being surprised by a prominent candidate in the presidential addresses of the currency of an epiphenomenon. Most returned, I preferred the silence. That is to say which way we have to take ownership of the subject. Fortunately, a CAR we proved them wrong as many others and is the layout of the Presidential Pact. Mr DESSANDE, worthy son of the countries in this sector that is often frightening, successfully looped around his table to offer us SOFIA. His positioning on the branch of meso finance has the advantage of creating this branch and thereby satisfy a market segment that other funding institutions but shunning the Presidential Pact will consolidate and develop in order to expand the supply sector. It is said that human resources in this area are the training structure also that little editing for the cause.
Remember, to BDEAC I mentioned in the job market, and central services of BEAC Yaounde we have the skills including a charge was to conduct internal audit of the financial scandal that there persists in France, but certainly in other countries of Central youth very comfortable in the use of financial engineering tools, the financial center of Paris await recognition of their country and contribute to its development. This new blood will be the spearhead of the reform of the sector in our country.
Within CEMAC, three (3) including a Central African compatriots have suffered the cast of the stock exchange in the subregion, but like BDEAC, they were dismissed without any reaction of Central Policy. All that to say that the data sector reform by the Presidential Pact are met for us to realize our goal of first appointment of Mr ANGUIMATE ELOIS: Expanding our Central Market NATIONAL short-term capital and complete the financing of capital market long term.
's reform since 1972 helped to end a policy of funding only the compartment of securities, a technique of credit ceilings. Mr MAMALEPOT BEAC governor had led the reform in his time by another institution between money market and in recent years the capital market long term. But that does not include a latent war leadership in the sub-region that leaves no room for our country out of its position dwarf space at any point of view.
compatriots should understand that the central bank remains the same as another company that has the same goals of internal balance, profit. It may as Enerca or a pub file for bankruptcy. The only difference with the other is that the money that supports the exchange in a country is its main product with services related to it. In this case is controlled by the French Treasury que les pièces du f Cfa sont, selon l’expression consacrée, frappées à PESSAC (Bordeaux) et les billets de banque en Bretagne par l’entreprise OBERTHUR. Ces entreprises ont un coût de production de ces signes monétaires majorés de leur marge à facturer à nos banques centrales. Lesquelles sauront les vendre aux banques primaires selon les conjonctures du moment à un prix qu’on appelle taux. On en compte essentiellement deux(2) au niveau de la banque centrale qui sont à la base de la formation des taux des autres banques assurant ainsi leur refinancement. Des établissements publics sont éligibles au marché monétaire mais leurs trésoriers ne se servent pas de cette opportunité in managing their treasuries.
For decades this rate has remained high at 6% on average. At this level the growth targets for financing the budget, as employment and inflation are out of reach. The trickle-sector development and its accompanying measures should enable the downward trend towards the range of 2% to 3% by end of mandate of Mr ANGUIMATE Elois. Restore the economic cycle with each economic agent in its roles is an action among others. Otherwise include the contribution of informal economic growth. By Example:
activity Taxi branch of urban transport sub-sector of land transport road transport sector has a fleet of at least 10,000 vehicles. If we assume an average of 5000 vehicles regularly and an annual average turnover of 10 000 CFA francs per day, that gives us 50 million CFA francs in bank liquidity off every day or 1.5 billion CFA francs per month and thus the equivalent of 18 billion CFA francs of liquidity that does not contribute to the banking system to encourage better monetary policy for financing the economy Central by the interplay of these rates. Presidential Pact has an arsenal of tools to create a healthy environment to the new political economy envisaged. Development soon to reform the banking and financial system will clarify the mechanisms and modalities for its implementation.
ANGUIMATE Elois
The willingness to say, the requirement to
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