BENIN: BIOGRAPHIC NOTE ON THE NEW MINISTER OF ECONOMY AND

UNCLAS COTONOU 000267 SIPDIS DEPT FOR AF/W ACOOK LONDON FOR PETER LORD PARIS FOR BKANEDA E.O. 12958: N/A TAGS: PGOV PREL PINR BN SUBJECT: BENIN: BIOGRAPHIC NOTE ON THE NEW MINISTER OF ECONOMY AND FINANCE REF: COTONOU 254 ¶1. Per Reftel, this cable provides further biographic details on Idriss Liassou Daouda, the newly appointed Minister of Economy and Finance. ¶2. From 2007, until his appointment as Minister of Economy and Finance, Idriss Liassou Daouda, served on the Presidential Council for Investment and was Advisor for Benin's Transitional Postal and Telecommunications Regulatory Authority, both chaired by President Yayi. He was also Financial Advisor to President Yayi. ¶3. Daouda started his career in 1977 as a young banker at the Central Bank of West African States' (BCEAO) Headquarters, in Dakar, Senegal, where he gradually held leading positions including Head of the Treasury Division, Head of the Issuance Division and Senior Economist. From 1996 to 1998 he was the Head of the Main Agency of the BCEAO in Cotonou. In 1998, he was appointed National Director for this bank until his retirement in 2006. He also served in 2006 as Governor Alternate on the IMF Board of Governors. ¶4. Daouda sits on several financial institutions' Boards of Directors including the National Commission on Debts (CNE),the National Institute of Statistics and Economic Analysis (INSAE),the Autonomous Redemption Fund (CAA) and the National Security Fund for Small and Medium-Sized Businesses (FONAGA). Together with the West African Development Bank (BOAD),Investment and Community Development Bank (BIDC) and Ecobank Transnational Incorporated (ETI),Daouda established, a company devoted to the creation of a regional airline company (ASKY). He holds a four-year Degree (Maitrise) in Management from the University of Paris IV Dauphine, and postgraduate degrees in Business Management and Finance, respectively. He is about sixty and is divorced. ¶5. The new Minister of Economy and Finance is said to possess good managerial and organizational skills. He is depicted as a man of method, a discrete and rigorous banker whose areas of expertise cover economic, monetary, and financial issues as well as banking. On June 18, 2009, at the official handover ceremony in Cotonou, Daouda committed himself to increasing Benin's economic performance by reducing exceptional public expenditure; improving the computerized management of government spending; developing a one-stop businesses licensing project; and fostering results-oriented financial management. ¶6. COMMENT: As a technical appointee, Daouda will perform well if he does not give in to the lure of politicians. He has no political affiliation so far. If he chooses to enter politics, it might distract him from efficiently carrying out his responsibilities, which may lead him to commit professional blunders like his predecessor (Reftel). However, to avoid possible conflicts of interests while holding his current office, and a point in his favor, he reportedly resigned from the financial institutions where he was on the Boards of Directors. END OF COMMENT RAWLINGS