2005-11-28

Decree No. 2005-832 of November 28, 2005 Approving the Annual Accounts for the 2004 Fiscal Year and Strengthening the Central Bank's Equity

The President of the Republic, acting on the proposal of the Minister of Economy, Finance and Budget in a Council of Ministers meeting, has issued Decree No. 2005-832 to approve the Central Bank's 2004 annual accounts and increase its capital from 200 million to 12 billion Ariary through reserve capitalization. The decree orders the publication of these accounts in the Official Journal and assigns execution duties to both the Economy, Finance and Budget Minister and the Central Bank Governor. This legal instrument formally strengthens the bank's equity base while ensuring coordinated governmental oversight of its financial reporting and capital structure.

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DECREE No. 2005-832 of November 28, 2005 Approving the Annual Accounts for the 2004 Fiscal Year and Strengthening the Central Bank's Equity THE PRESIDENT OF THE REPUBLIC Having regard to the Constitution, Having regard to Law No. 94-004 of June 10, 1994 on the Statutes of the Central Bank, Having regard to Decree No. 2003-007 of January 12, 2003 on the appointment of the Prime Minister, Head of Government; Having regard to Decree No. 2003-008 of January 16, 2003, as amended by Decrees No. 2004-001 of January 5, 2004, No. 2004-680 of July 5, 2004, No. 2004-1076 of December 7, 2004, No. 2005- 144 of March 17, 2005, No. 2005-700 of October 19, 2005, and No. 2005-827 of November 28, 2005 on the appointment of members of the Government, Upon proposal from the Minister of Economy, Finance and Budget, IN COUNCIL OF MINISTERS, HAS DECREED: Article 1 – The annual accounts for the 2004 fiscal year of the Central Bank, as per the statements attached to this Decree, are hereby approved. Their publication in the Official Journal is ordered. Article 2 – The capital of the Central Bank is increased from 200 million Ariary to 12 billion Ariary through the capitalization of reserves. Article 3 – The Minister of Economy, Finance and Budget, and the Governor of the Central Bank are each responsible, within their respective areas of competence, for the execution of this Decree, which shall be published in the Official Journal of the Republic. Done at Antananarivo, on November 28, 2005 By the PRESIDENT OF THE REPUBLIC Marc RAVALOMANANA THE PRIME MINISTER, HEAD OF GOVERNMENT, Jacques SYLLA THE MINISTER OF ECONOMY, FINANCE AND BUDGET Benjamin Andriamparany RADAVIDSON