Haiti - Economy : Agreement on the management of the Public Treasury between the Ministry of the Economy and the BRH

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Haiti - Economy : Agreement on the management of the Public Treasury between the Ministry of the Economy and the BRH
10/10/2017 09:27:46

A Memorandum of Understanding on treasury management was signed by the Ministry of Economy and Finance (MEF), represented by Minister Jude Alix Patrick Salomon and the Bank of the Republic of Haiti (BRH), represented by its Governor, Jean Baden Dubois. The purpose of this memorandum of understanding is to determine the conditions under which the Ministry and the Central Bank undertake to manage the availability of the State Treasury.

Excerpts from the Protocol :
"[...]

Article 2.- Under the terms of this protocol, the MEF undertakes to ensure that adequate resources are maintained between the resources available and the expenses of the Central Administration of the State.

Article 3.- When the available resources are insufficient, the MEF will request from the BRH an advance up to the necessary funds. At the end of each quarter, the total of these advances must be consistent with the level of monetary financing provided for in the financial program with the International Monetary Fund (IMF)

Article 4.- The BRH will also provide to the MEF on a weekly basis the estimated amount of funding from the Central State Administration according to the methodology agreed by the parties in the table entitled "Approximate calculation of BRH financing of the central government".

Article 5.- In order to facilitate the operations mentioned in this Memorandum of Understanding, the MEF will transmit on a weekly basis at the BRH, a summary program of expenditure to be carried out.

Article 6.- This Memorandum of Understanding binds the parties immediately after their signature. It is concluded for a period of twelve (12) months [...]

Article 7.- The BRH undertakes to publish daily on its Web portal all transactions affecting the Central Treasury Account.

Article 8.- The revenues collected in the provincial towns by the National Bank of Credit (BNC) and transferred to the BRH will also be published on the BRH web portal on a day-to-day basis.

[...]

Article 10. The parties undertake to meet on a monthly basis in order to adapt the terms of this Memorandum of Understanding to possible amendments to the Finance Act, to the evolution of the economic situation, and the commitments made to international donors [...]"

HL/ HaitiLibre