O conteúdo da carta assinada pelo ministros da Economia e das Finanças que o Governo fez chegar a 16 de Abril último ao FMI no âmbito da primeira avaliação do acordo SBA, revela um conjunto de incumprimentos e as suas razões, assumidos pelo Executivo em relação aos compromissos iniciais.
Aqui ficam alguns extractos desta missiva em inglês, lamentando o facto do Governo não a ter divulgado em Angola em português, embora tenha autorizado que o FMI a tornasse pública na internet na versão inglesa.(http://www.imf.org/external/pubs/ft/scr/2010/cr10143.pdf)
Para efeitos de transparência as coisas começam a melhorar, mas de facto não custava nada divulgar em Luanda a versão original desta importante e esclarecedora missiva.
Aqui ficam alguns extractos da dita cuja com um convite-desafio muito especial dirigido aos frequentadores deste blog que têm melhores relações com o idioma de Shakespeare para nos ajudarem a comparar os dois discursos oficiais.
Aquele que é para consumo interno e o outro que viaja agora até Washington, por força deste acordo com o FMI. Claramente o segundo discurso é muito mais interessante, sobretudo porque é mais verdadeiro, sobretudo porque o Fundo dificilmente compraria a "banha da cobra" que o Executivo por vezes distribui internamente.
(...)
The projects contracted with China are subject to a market-based bidding process, while other projects are required to observe OECD rules. In total, the government needs to contract $6 billion projectsrelated credit lines in 2010 and a significantly lower amount of contracts are envisaged for future years. Given a disbursement profile spreading over several years, the low beginning debt level, and a favorable growth prospect, external public debtto-GDP ratio will still be on a declining path. While we accept the new debt ceiling of $6 billion, we would like to emphasize that this ceiling would need to be kept under constant review given the government’s development program, fluctuations in oil prices and the associated changes in the government’s external financing needs. As part of regular data reporting, under the program the authorities will now report outstanding stock of undisbursednonconcessional debt contracted. As noted in our original Letter of Intent (dated November 3, 2009), the government of Angola will consult with the IMF in advance of any revisions following this extended Letter of Intent.
(...)
8. We are committed to executing the 2010 budget in a prudent fashion. We will initiate a revised 2010 budget with the expectation of approving it in July. The revised budget will allocate funds to clear the bulk of the current stock of domestic arrears which amount to about $4 ½ billion and we have entered into negotiations with some of the suppliers to securitize some of the arrears. The revised budget will also aim to phase out the quasi-fiscal operations with Sonangol and gradually reduce fuel subsidies. The revised budget will aim toimprove the targeting of the public investment program and our new project appraisal framework at the Ministry of Planning will be finalized soon. Part of the spending reduction that would come from the above-mentioned two measures in the revised budget will be reallocated to social spending.
9. The government also attaches paramount emphasis on improving fiscaltransparency. We have published Sonangol’s 2007 and 2008 audited financial statements, which include its quasi-fiscal operations (prior action). We will also develop an action plan to implement the main recommendations in the audit reports. We are committed to complete and publish the audit of Sonangol’s 2009 financial statements, which include its quasi-fiscaloperations by November 2010. In addition, we will study the legal and institutional preconditions, in order to assess the feasibility of developing an action plan on implementing the IMF's Principles on Resource Revenue Transparency and will communicate our decision bySeptember 2010.
(...)
13. Given the success to date of the program and corrective policy measures, we request the granting of waivers and the completion of the first SBA review. For end-March 2010 data that are not yet available, we request waivers for applicability except for the performance criteria related to external and domestic arrears for which we are requesting waivers for nonobservance. Most of the end-December 2009 program targets were observed.The very modest arrears to IDA of $1.3 million (0.002 percent of GDP)—which arose from an oversight in the debt servicing unit—have been cleared. Regarding domestic arrears, they resulted from the shortfall of projected financing against the backdrop of worsened market conditions. To avoid any future accumulation of arrears, we intend to ensure full financing oft he budgeted expenditures. As stated above, we will also craft a clear plan to clear the existing stock of arrears in the forthcoming 2010 revised budget in July/August.
quinta-feira, 29 de julho de 2010
Governo faz transparência para inglês ler...
O conteúdo da carta assinada pelo ministros da Economia e das Finanças que o Governo fez chegar a 16 de Abril último ao FMI no âmbito da primeira avaliação do acordo SBA, revela um conjunto de incumprimentos e as suas razões, assumidos pelo Executivo em relação aos compromissos iniciais.
Aqui ficam alguns extractos desta missiva em inglês, lamentando o facto do Governo não a ter divulgado em Angola em português, embora tenha autorizado que o FMI a tornasse pública na internet na versão inglesa.(http://www.imf.org/external/pubs/ft/scr/2010/cr10143.pdf)
Para efeitos de transparência as coisas começam a melhorar, mas de facto não custava nada divulgar em Luanda a versão original desta importante e esclarecedora missiva.
Aqui ficam alguns extractos da dita cuja com um convite-desafio muito especial dirigido aos frequentadores deste blog que têm melhores relações com o idioma de Shakespeare para nos ajudarem a comparar os dois discursos oficiais.
Aquele que é para consumo interno e o outro que viaja agora até Washington, por força deste acordo com o FMI. Claramente o segundo discurso é muito mais interessante, sobretudo porque é mais verdadeiro, sobretudo porque o Fundo dificilmente compraria a "banha da cobra" que o Executivo por vezes distribui internamente.
(...)
The projects contracted with China are subject to a market-based bidding process, while other projects are required to observe OECD rules. In total, the government needs to contract $6 billion projectsrelated credit lines in 2010 and a significantly lower amount of contracts are envisaged for future years. Given a disbursement profile spreading over several years, the low beginning debt level, and a favorable growth prospect, external public debtto-GDP ratio will still be on a declining path. While we accept the new debt ceiling of $6 billion, we would like to emphasize that this ceiling would need to be kept under constant review given the government’s development program, fluctuations in oil prices and the associated changes in the government’s external financing needs. As part of regular data reporting, under the program the authorities will now report outstanding stock of undisbursednonconcessional debt contracted. As noted in our original Letter of Intent (dated November 3, 2009), the government of Angola will consult with the IMF in advance of any revisions following this extended Letter of Intent.
(...)
8. We are committed to executing the 2010 budget in a prudent fashion. We will initiate a revised 2010 budget with the expectation of approving it in July. The revised budget will allocate funds to clear the bulk of the current stock of domestic arrears which amount to about $4 ½ billion and we have entered into negotiations with some of the suppliers to securitize some of the arrears. The revised budget will also aim to phase out the quasi-fiscal operations with Sonangol and gradually reduce fuel subsidies. The revised budget will aim toimprove the targeting of the public investment program and our new project appraisal framework at the Ministry of Planning will be finalized soon. Part of the spending reduction that would come from the above-mentioned two measures in the revised budget will be reallocated to social spending.
9. The government also attaches paramount emphasis on improving fiscaltransparency. We have published Sonangol’s 2007 and 2008 audited financial statements, which include its quasi-fiscal operations (prior action). We will also develop an action plan to implement the main recommendations in the audit reports. We are committed to complete and publish the audit of Sonangol’s 2009 financial statements, which include its quasi-fiscaloperations by November 2010. In addition, we will study the legal and institutional preconditions, in order to assess the feasibility of developing an action plan on implementing the IMF's Principles on Resource Revenue Transparency and will communicate our decision bySeptember 2010.
(...)
13. Given the success to date of the program and corrective policy measures, we request the granting of waivers and the completion of the first SBA review. For end-March 2010 data that are not yet available, we request waivers for applicability except for the performance criteria related to external and domestic arrears for which we are requesting waivers for nonobservance. Most of the end-December 2009 program targets were observed.The very modest arrears to IDA of $1.3 million (0.002 percent of GDP)—which arose from an oversight in the debt servicing unit—have been cleared. Regarding domestic arrears, they resulted from the shortfall of projected financing against the backdrop of worsened market conditions. To avoid any future accumulation of arrears, we intend to ensure full financing oft he budgeted expenditures. As stated above, we will also craft a clear plan to clear the existing stock of arrears in the forthcoming 2010 revised budget in July/August.
