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National Transitional Council: modification of the BCRG Statutes

25/04/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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Lors de sa séance plénière le mercredi 24 avril 2024, le Conseil national de la transition a officiellement modifié les Statutes of the Central Bank of the Republic of Guinea (BCRG) under the presidency of Dr. Dansa Kourouma, President of the Transitional Parliament

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The amendment to the BCRG Statutes relates to the amendment of article 36 of the institution's statutes. Indeed, article 36 of the BCRG statutes could be reformulated as follows: “the total amount of assistance that the Central Bank may grant to the State and, where applicable, to public bodies and entities, may not exceed 5% of the annual average of ordinary public revenue for the last three financial years preceding the current year and for which accounts are available. Such grants are refundable within a period that cannot exceed 92 calendar days and are subject to the market interest rate in force in the Republic of Guinea. However, under this Law, an exemption may be granted by the Central Bank to the State, in extraordinary circumstances such as major economic crises or natural disasters, upon authorization of the Board of Directors, without exceeding the ECOWAS convergence rate and refundable within a period not exceeding 180 calendar days. Such competitions are subject to an interest rate that cannot exceed the BCRG key rate. The Central Bank may acquire government securities provided that these acquisitions take place on the secondary market.”

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