ELSEWHERE, THEY ASK REAL QUESTIONS BEFORE ACCEPTING ANYTHING! CHEZ LES AUTRES, ON POSE DE VRAIS QUESTIONS AVANT D’ACCEPTER N’IMPORTE QUOI !
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RAYMOND NDONG SIMA’S MELANCHOLY! LES MELANCOLIES DE RAYMOND NDONG SIMA !
English version In a video published on social media, Raymond Ndong Sima can be seen and heard expressing deep bitterness over the inevitable failure of Agropag, where he served as Chairman of the Board of Directors. However, his speech demonstrates that this melancholy extends well beyond the mere bankruptcy of this state-owned enterprise. When someone has led the government under Ali Bongo and then under the transition of Brice Clotaire Oligui Nguema, can they present themselves to the Gabonese public as a mere victim? Is a posture of resignation normal for a man who has led the government under two presidents? In the video, the former Prime Minister explains his withdrawal from the Agropag board of directors by citing total decisional paralysis. He reveals that despite holding five board meetings in three months, the Director General systematically rejected and ignored the resolutions adopted by the board. It may seem quite surprising that ...
A REFLECTION BY MARC MVE BEKALE! UNE REFLEXION DE MARC MVE BEKALE !
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THE TITLE SHOULD HAVE BEEN: GABON ADDS TO ITS DEBT ! LE TITRE AURAIT DU ÊTRE LE GABON AJOUTE À SA DETTE !
English version Gabon has just taken on heavy debt. But instead of telling us clearly, the newspaper L'Union uses the euphemism: raising funds. An essential nuance in public finance is the subtle difference between raising funds and increasing one's debt. It is accurate that Gabon recently raised 524 billion FCFA (approximately 920 million dollars) on the international financial markets. This borrowing in the form of Eurobonds is primarily intended to repay older debts that were reaching maturity. The State raises new debt to clear or repay old debt. This is what is called refinancing. The country's overall debt will therefore not mathematically increase by 524 billion, because this new debt substitutes another that is being repaid simultaneously. But although a significant part of this money is used for debt repurchasing, official press releases specify that a fraction of this fundraising is also intended to finance infrastructure projects, particularly in the water a...
