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"Stop making excuses, take responsibility": Economist accuses BCEAO of bankruptcy in hidden debt scandal

Auteur: Seneweb News

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"Cessez les excuses, assumez " : Un économiste accuse la BCEAO de faillite dans le scandale de la dette cachée

In an open letter addressed to the Governor of the Central Bank of West African States (BCEAO), Famara Ibrahima Cissé, president of the Citizens' Association for Financial Stability and Integrity (ACSIF), a financial engineer certified by HEC-Paris and a researcher at UCAD, calls the institution to account for its responsibility in the scandal surrounding Senegal's hidden debt, estimated at nearly $7 billion. This letter, made public this Sunday, follows revelations by the Court of Auditors, confirmed by Mazars and the IMF, of a massive undervaluation of public debt. Cissé disputes the Governor's argument that "the Central Bank did not have this information," highlighting a crucial omission: "You are overlooking the fact that any financial flow, whether from domestic or foreign borrowing, necessarily passes through banking channels under the control and regulation of the BCEAO."

He insists on the "duty of vigilance and alert" incumbent on the BCEAO, believing that the latter "requires the institution not only to monitor but also to report any atypical, disproportionate or non-compliant debt with the principles of budgetary transparency."

The researcher criticizes the BCEAO's inaction in the face of the damning reports, noting that "the findings of the Court of Auditors, the analyses of the Mazars firm, as well as the IMF's confirmation of the undervaluation of Senegal's debt, should have led the BCEAO to fully address the issue." He deplores the absence of initiatives such as "an independent audit, establishing a strengthened alert mechanism and drawing all the necessary lessons to restore confidence." According to him, by limiting itself to an "exclusively monetary" mandate, the BCEAO risks "appearing as an accomplice by omission, thus weakening the credibility of the entire WAEMU area."

Cissé goes further, calling this situation a "failure of vigilance," stating that "the BCEAO, by not fulfilling its obligation to warn and indirectly supervise, has failed in its role as guardian of collective discipline." He emphasizes that "in a monetary union where stability rests above all on trust, no institution can shirk its share of responsibility."

Finally, he calls for decisive action: "The time for defensive or minimalist statements is over. It is time for courageous recognition and the commitment to a thorough reform of monitoring and alert mechanisms, so that such a scandal never again undermines the economic and financial stability of our countries and compromises the future of millions of citizens who place their trust in our institutions."

Auteur: Seneweb News

Commentaires (5)

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    tex il y a 2 jours

    Vous avez tout a fait raison .
    Cela sent un autre gros scandale !

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    @tex il y a 2 jours

    Arrêtez vos conneries ! S'il y avait une dette cachée, où sont les préteurs cachés ?

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    senegal il y a 2 jours

    Ce Famara est un membre de la coalition au pouvoir donc ces propos n'ont aucune crédibilité. Il est obligé de parler dans le sens des mensonges du client pour prétendre à une récompense avec le remaniement gouvernemental qui ointe à l'horizon

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    Le véridique il y a 2 jours

    Arrêtez vos mensonges dette cachée et ce nouveau pouvoir n arrive toujours pas à décrocher un financement venant du FMI parce qu'il ne peut pas le prouver

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    Seydou il y a 2 jours

    L'un des 4000 cancres ou aspirant 4001ème ?

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    Moss Demm il y a 2 jours

    La Bceao a mieux à faire qu a plaire au duo farceur
    Demlen tokk personne ne vous prend aux serieux avec l avenement de pastef la rigueur intellectuelle qu on connaissait du leadership senegalensis s effrite

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    IbouCanada il y a 2 jours

    Franchement.
    Qui a caché Quoi, Ou, Quand et Comment.
    On attend de voir.
    Dans l'opposition, on pouvait vous laisser le temps de prouver vos âneries, maintenant le pouvoir c'est vous avec tout ce que cela comporte de moyens. Prouvez ou taisez vous.
    Le Gorgorlu a faim et ne veut rien savoir de vos théories.
    J'attends le Procureur-Gestapo qu'il vienne me chercher au Canada, au moins j'aurais un billet d'avion gratuit vers le bled et un séjour à la seule prison au monde au bord de l'océan.
    Kouma Saaga, Fayou Naa.
    Teup Leumbeul, Teubeuti Leumbeul....

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