Government Malabo will host the meeting of the countries of the Free Zone On March 10, the Interministerial Council was informed that the country will host on April 2 and 3 the meeting of the countries of the Free Zone. Furthermore, they unveiled important news concerning the progress of the Equatorial Guinean economy.

12/03/2014

In his capacity as Secretary of the Interministerial Council, Federico Abaga Ondo, Delegate Minister of Information, Press and Radio, revealed that a total of 350 people will come to Malabo to participate in the official meeting of the countries of the Free Zone, belonging to the International Monetary Fund (IMF), the World Bank (WB) and other international financial institutions to assess the macroeconomic situation of the States that use the CFA franc.

The Minister of Finance and Budgets, Marcelino Owono Edu, explained that the meeting is held twice a year, and this time Equatorial Guinea has been chosen to host it. He also announced that the next forum will be held in France, which will send a delegation of about forty members, headed by two ministers.

Meanwhile, Abaga Ondo said, "We have also seen the draft project on additional economic and financial measures for the sustainability of the finances of the Republic of Equatorial Guinea," and went on to report that "the draft project aims to strengthen the strict compliance of the economic measures taken by the Government, for a better control of costs and to also improve the revenue from the companies, both of state participation and public companies."

At the same time, the Interministerial Council approved the Draft Decree that creates the Holding Equatorial Guinea 2020, within the framework of fulfillment of the objectives of the agenda for economic diversification.

Finally, the Council also approved the Draft Decree establishing a Joint Investment Fund, in order to maximize the returns on the reserve funds, not to compete with the private sector, but rather to strengthen it.

Text: A.A.
Equatorial Guinea’s Press and Information Office.

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