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New austerity budget announced

    ABIDJAN
    Finance Minister James Jonah announced on Friday an austerity budget of 275.98 billion leones for the fiscal year 2,000, presidential spokesman Septimus Kaikai told IRIN on Monday. According to Kaikai, Jonah said that the budget, amounting to some US $128 million at the official exchange rate of 2,154 leones to the dollar, could be revised upwards once aid money began to flow again. The budget includes some 58.5 billion leones to be spent on security, 78.2 billion leones on wages, 42.8 billion leones on domestic debt payments and 26 billion leones on servicing external debt, Kaikai told IRIN. He added that the International Monetary Fund was due to review government spending in May 2000 with a view towards working on a structural adjustment programme.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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