Cote d'Ivoire wants to reach 60% repatriation of export earnings by the end of 2018

(Agence Ecofin) – According to Minister of Economy and Finance of Cote d'Ivoire Adama Koné (photo) Côte d 'Ivoire hopes to reach 60% repatriation rate by the end of 2018. a statement was made on Thursday 8 November in Grand Bassam at a seminar on information, sensitization and exchange of information on mining, oil, and coffee and cocoa exporting companies for repatriation of export recipes.

According to regular reports from the central bank, the rate of export repatriation from Côte d'Ivoire increased from 30% in 2017 to 50% at the end of July 2018.

Adama Koné also noted that the rate of repatriation of these revenues remained low due to non-compliance with regulatory procedures in this matter by insurance banks and some operators of the oil, mining and cocoa industries. "The location of export sites in these three (3) key sectors of our economy is 26% for the oil sector, 32% for mines and 12% for the coffee and cocoa sectors, thus focusing only on 2017, % home transaction failure, thus reducing BCEAO currency transfer options ", he explained.

CNSRRE Chairman Assahoré Konan Jacques said that despite the various measures to raise this rate he remained one of the most WAEMU and 80% of the Community norm.

In order to change the game, Assahoré Konan Jacques suggested creating central repatriation of export earnings, accompanied by the development of a module currently being completed to help find actor's responsibility.

It is recalled that CNSRRE was set up in 2014 to monitor the various exporting companies and banks in accordance with their respective obligations regarding resettlement and repatriation of export earnings.

Flora Kacou

Source link