Discussions with the authorities were held from July 17-31, 2001 by an IMF mission composed of Mr. Lienert, Mission Chief, and Mr. Bouley, Technical Assistance Advisor (both FAD).
The full privatization of four of these banks (BMCD, BDM-SA, BCS-SA, and BIM-SA) is scheduled to be completed by end-2004; beyond this date, the government will have holdings only in the BNDA and the BHM.
The Budget d’Etat comprises: a note explaining budgetary objectives; the Loi de Finances (appropriations by line item); detailed tables of revenues and expenditures; new and existing measures (services votés—mesures nouvelles); the annual Special Investment Budget—BSI (which includes foreign-financed projects) and the three-year autorisations de programmes; budget-programs for every ministry, and other annexes (e.g., for debt servicing). In 2001, subsidies to public enterprises in difficulty were explicitly included in the annual budget.
To the extent that foreign-financed investment expenditures are not part of the annual appropriations law (Loi de finances) this is a less serious problem.