by Fonban Emmanuel
The Minister of Finance, Louis Paul Motaze on Wednesday, June 24, 2020 presided over the second session of the steering committee for the second phase of the Financial Governance Support Project of the state of Cameroon at Hilton Hotel in Yaounde.
To ensure the second phase of the Financial Governance Support Project realizes and yields desirable results, the French Development Agency on May 29, 2019 signed an allocation agreement with the state of Cameroon, worth two billion, six hundred and twenty three million, eight hundred and twenty eight thousands francs cfa, to fund this phase of the project.
“This project aims to reinforce the capacities of the state to control and master the execution of its budget through the accounting reform and that of the optimization of the treasury” said Louis Paul Motaze as he chaired the session.
To the Finance Minister, this second phase must contribute to the implementation of the reforms relating to the improvement of coverage and functioning of the single treasury account in order to increase the volume of liquidity available to the treasury.
Among other expectations of this second phase, it is also expected that it will guarantee the optimization and consistency of budget regulation and cash management to prevent the accumulation of arrears payment as well as ensure transparency of information circulated on the digital space.
“Globally we were satisfied with the results we have so far. At the beginning of the year we had prescriptions on projects to be realized to guarantee success in 2020. We have done many projects. The reforms of the unit account and some projects on the reforms of our public finance” said Nestor Achille Basahag, Director of Public Accounting at the Ministry of Finance.
However, irrespective of the pandemic that halted some projects, Minister Louis Paul expressed satisfaction to the committee in their achievements in 8months as he recounted.
The development of the instructions on the general accounting of the state, the adoption of the computer architecture to support the accounting reform, defining the new architecture of the single treasury account and few other achievements were the success recorded by the committee in 8months as mentioned by the Minister.
Much is expected to be done to meet the expectations of the committee in attaining the vision of the government.