Regulatory Alerts1993-02-09
Ordinance No. 93-005 of February 9, 1993, Establishing the Finance Law for 1993 (Extract)
Ordinance No. 93-005 of February 9, 1993 authorizes mutual debt compensation between the Treasury and Central Bank based on accounts as of December 31, 1992, consolidating the net result into an interest-bearing long-term loan. The decree simultaneously establishes a Debt Management Fund for External Debt (FGDE) to monitor restructured external debt and payment arrears, incorporating their respective balances into the fund’s opening statement. All technical procedures for these compensation and consolidation operations, along with the FGDE’s operational framework, will be formally defined through a bilateral agreement between the Finance Minister and the Central Bank.
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