Journal Issue

Statement by the IMF Staff Representative

International Monetary Fund
Published Date:
January 2008
  • ShareShare
Show Summary Details

1. The following information has become available since the issuance of the staff report. The thrust of the staff appraisal remains unchanged.

2. Recent information received from the authorities indicate that all the prior actions for the sixth PRGF review have been met (see table below).

However, in approving the proposal for the revised central bank (BRB) charter on January 4, 2008, the council of ministers modified a number of articles, including to replace the governor as president of the board of directors of the BRB with one of the external board members. Staff will discuss the impact of these changes on the intended objective of central bank independence and, if needed, would propose corrective actions in line with best international practice in the context of discussions on an eventual successor PRGF arrangement.

Burundi — Status of Prior Actions for the Sixth Review under the PRGF Arrangement
Prior actions
Ministerial Orders of the Minister of Finance:
  • establishing an exhaustive list of the kinds of expenditures that may be made without a prior payment order (ordonnancement);

  • clarifying the provisions of article 52 of the Public Accounting law;

  • concerning the status and prerogatives of the internal control office of the Ministry of Finance, and the duties of the office responsible for developing the IFMIS.

Met, January 9, 2008?

Met, January 9, 2008

Met, January 8, 2008 and December 31, 2007
  • Promulgate the 2008 budget law in conformity with the program discussed with the IMF.

Met, December 30, 2007
  • Launch an external audit of HIPC expenditures

Met, December 6, 2007
  • Approve the implementing regulations for the statistics law

Met, December 20, 2007 (revised from November 27, 2007)
  • Parliamentary passage of the anti-money laundering law

Met, December 17, 2007
  • Launch an external audit of cross-debts between the petroleum sector and the budget.

Met, December 10, 2007
  • Launch the census operation of all government employees

Met, December 10, 2007
  • Approval by the council of ministers of the revised BRB charter and submit it to Parliament

Met, January 4, 2008

Other Resources Citing This Publication