Guinea Bissau’s government to carry out international audit of public accounts

15 May 2007

Bissau, Guinea Bissau, 15 May – The government of Guinea Bissau plans to order an international audit of its 2006 public accounts, the minister of finance, Issuf Sanhá said Monday in Bissau.

According to the minister, the audit was part of a set of measures implemented by the current government and will cover ministries, state secretariats, autonomous institutes and companies in which the State has a stake, namely telecommunications company Guinetel and Guine-Telecom, both majority-owned by Portugal Telecom.

Issuf Sanhá also said that when the current government, led by Martinho N’Dafa Cabi, came into office, the balance of the public treasury was the equivalent of 206,000 euros, while debt totaled 39.7 billion euros.

Financial institutions such as the World Bank and the International Monetary Fund (IMF), as well as development partners, namely the United Nations Development Program, are encouraging the current government to see the audit as a “regular exercise,” said the Finance Minister.

While awaiting the conclusion of the audit and application of the financial clean up program, the Finance Minister said he was planning to do some “financial engineering” to pay, at least, four months of delayed salaries.

For this, he said he was counting on the help of institutions such as the United Nations Fund for Peace and the West African Economic Development Community and Angola. (macauhub)