Identifier
Created
Classification
Origin
09NDJAMENA140
2009-04-23 07:41:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Ndjamena
Cable title:
GOC OFFERS ITS OWN VERSION OF BUDGET REVISION
how-toVZCZCXRO7124 RR RUEHGI RUEHTRO DE RUEHNJ #0140 1130741 ZNR UUUUU ZZH R 230741Z APR 09 FM AMEMBASSY NDJAMENA TO RUEHC/SECSTATE WASHDC 6874 INFO RUEHTRO/AMEMBASSY TRIPOLI 0603 RUEHYD/AMEMBASSY YAOUNDE 1753 RUEHKH/AMEMBASSY KHARTOUM 0538 RUEHLO/AMEMBASSY LONDON 1807 RUEHFR/AMEMBASSY PARIS 2366 RUEHGI/AMEMBASSY BANGUI 1570 RUEATRS/DEPT OF TREASURY WASHDC RHMFISS/HQ USAFRICOM STUTTGART GE
UNCLAS NDJAMENA 000140
SENSITIVE
SIPDIS
STATE FOR AF/C AND AF/USSES
NSC FOR GAVIN AND HUDSON
LONDON FOR POL -- LORD
PARIS FOR POL -- D'ELIA AND KANEDA
ADDIS ABABA ALSO FOR AU
E.O. 12958: N/A
TAGS: PGOV ECON EPET EFIN IMF IBRD CBD EAID PREL CD
SUBJECT: GOC OFFERS ITS OWN VERSION OF BUDGET REVISION
REF: NDJAMENA 135
-------
SUMMARY
-------
UNCLAS NDJAMENA 000140
SENSITIVE
SIPDIS
STATE FOR AF/C AND AF/USSES
NSC FOR GAVIN AND HUDSON
LONDON FOR POL -- LORD
PARIS FOR POL -- D'ELIA AND KANEDA
ADDIS ABABA ALSO FOR AU
E.O. 12958: N/A
TAGS: PGOV ECON EPET EFIN IMF IBRD CBD EAID PREL CD
SUBJECT: GOC OFFERS ITS OWN VERSION OF BUDGET REVISION
REF: NDJAMENA 135
--------------
SUMMARY
--------------
1. (SBU) Finance Minister Gata Ngoulou outlined April 21 for
Ambassador the GOC's plan to address the budget revenue
shortfall precipitated by the drop in the price of oil, a
resource that accounts for 75 percent of the GOC's budget.
The GOC will fill the USD 80 million gap between 2009
receipts and revenues with a sum withdrawn from the regional
central bank. Ngoulou asked for U.S. support with the IFIs
in pursuing the GOC's vision of a revised 2009 budget. END
SUMMARY.
--------------
GOC WANTS TO REVISE ITS WAY
--------------
2. (SBU) Finance Minister Gata Ngoulou outlined April 21 for
Ambassador the GOC's plan to address the budget revenue
shortfall precipitated by the drop in the price of oil, a
resource that accounts for 75 percent of the GOC's budget.
The meeting request by the Finance Minister came just days
after the IMF said that it was not able to persuade the GOC
to revise its budget and hours before Ngoulou departed for
the April 25-26 IFI meetings in Washington.
3. (SBU) Ngoulou explained that the GOC had budgeted CFA 220
billion (USD 440 million) for investment in the 2009 budget.
He said that the IMF wanted them to halve those expenditures
to CFA 110 billion (USD 220 million). The GOC
counter-proposed CFA 180 billion (USD 360 million). The GOC
would approach the regional central bank, BEAC, to cover the
CFA 40 billion (USD 80 million) different, according to
Ngoulou. The FINMIN continued the GOC's mantra, heard on
many fronts, that the government could not reduce investment
spending and cut projects already in the pipeline. He said
that Chad was not like other countries with alterative
options for resources and investments.
4. (SBU) Ngoulou asked for U.S. support with the IFIs in
pursuing the GOC's vision of a revised 2009 budget.
5. (U) Minimize considered.
NIGRO
SENSITIVE
SIPDIS
STATE FOR AF/C AND AF/USSES
NSC FOR GAVIN AND HUDSON
LONDON FOR POL -- LORD
PARIS FOR POL -- D'ELIA AND KANEDA
ADDIS ABABA ALSO FOR AU
E.O. 12958: N/A
TAGS: PGOV ECON EPET EFIN IMF IBRD CBD EAID PREL CD
SUBJECT: GOC OFFERS ITS OWN VERSION OF BUDGET REVISION
REF: NDJAMENA 135
--------------
SUMMARY
--------------
1. (SBU) Finance Minister Gata Ngoulou outlined April 21 for
Ambassador the GOC's plan to address the budget revenue
shortfall precipitated by the drop in the price of oil, a
resource that accounts for 75 percent of the GOC's budget.
The GOC will fill the USD 80 million gap between 2009
receipts and revenues with a sum withdrawn from the regional
central bank. Ngoulou asked for U.S. support with the IFIs
in pursuing the GOC's vision of a revised 2009 budget. END
SUMMARY.
--------------
GOC WANTS TO REVISE ITS WAY
--------------
2. (SBU) Finance Minister Gata Ngoulou outlined April 21 for
Ambassador the GOC's plan to address the budget revenue
shortfall precipitated by the drop in the price of oil, a
resource that accounts for 75 percent of the GOC's budget.
The meeting request by the Finance Minister came just days
after the IMF said that it was not able to persuade the GOC
to revise its budget and hours before Ngoulou departed for
the April 25-26 IFI meetings in Washington.
3. (SBU) Ngoulou explained that the GOC had budgeted CFA 220
billion (USD 440 million) for investment in the 2009 budget.
He said that the IMF wanted them to halve those expenditures
to CFA 110 billion (USD 220 million). The GOC
counter-proposed CFA 180 billion (USD 360 million). The GOC
would approach the regional central bank, BEAC, to cover the
CFA 40 billion (USD 80 million) different, according to
Ngoulou. The FINMIN continued the GOC's mantra, heard on
many fronts, that the government could not reduce investment
spending and cut projects already in the pipeline. He said
that Chad was not like other countries with alterative
options for resources and investments.
4. (SBU) Ngoulou asked for U.S. support with the IFIs in
pursuing the GOC's vision of a revised 2009 budget.
5. (U) Minimize considered.
NIGRO