LETTERS, Argentina
Public fundsBy Muyoyeta Simasiku
Tuesday February 20, 2007 [02:00]
Regarding public funds disclosure, I don't know what the current laws say about this but would I want to suggest that citizens be allowed access to the public funds, budgets and implementation plans at all levels of government.
This will improve transparency in managing of public funds. The general public must be allowed to ask for a copy of these public funds, including the books of accounts on their expenditure.
Since the resources are meant for the public, I see no need to keep them secret and deny the public access to their books.
I implore and challenge Parliament to enact laws that will allow the public access to public funds at any level of government if they are really serious about transparency and fighting corruption. No public office should be spared including that of the Intelligence Services.
I believe that the only public information and issues that must be kept 'secret' are those that border on the security of the country and I don't see how disclosure of public funds expenditure by the Intelligence Services could undermine the country's security. The current scenario where only the Public Accounts Committee of Parliament is allowed access to public funds expenditure is not transparent enough and it is 'toothless'.
We should encourage public disclosure of public funds in order to improve transparency and ultimately reduce unnecessary, reckless and extravagant spending by public offices.
http://www.postzambia.com/post-read_article.php?articleId=22871
Argentina frees itself from IMF
By Larry Moonze in Havana, Cuba
Tuesday February 20, 2007 [02:00]
ARGENTINA has declared its autonomy from the International Monetary Fund (IMF) and will now freely negotiate with the Paris Club. According to the Latin American News Agency - Prensa Latina - Argentinian chief of the executive Cabinet Alberto Fernandez told Radio Mitre on Saturday that Argentina now had nothing to negotiate with the IMF. "Argentina has nothing to negotiate with the IMF, because it owes nothing to it," the Alberto Fernandez said. ¨When Buenos Aires decided to pay the whole debt to the Fund, it was precisely to recover independence in decision-making.”
Fernandez said Argentina would not accept a situation where the country once again resorted to the IMF to pay another debt. The Argentine economy ministry clarified on Wednesday the government is directly negotiating with the Club directors and will not do it with member countries in particular. Argentina owes about US $4.96 billion to the Paris Club, and nearly 70 per cent are commitments with Germany and Japan. In September 2005, 18 of the poorest nations, including Zambia, had their debts to the IMF written out after rich countries bridged differences.
Leaders of the Group of Eight (G8) nations pledged at a July meeting in Gleneagles, Scotland, to cancel all debt owed to the international institutions by the world’s poorest states. Under the plan, US $40 billion of debt to the international institutions was written off. African nations welcomed the deal. But Argentina although a developing country like African states, decided to pay off its IMF debt of US$9.8 billion. Payment was originally scheduled for 2008, and paying off the debt early was to save Argentina around US $1 billion.
Labels: GOVERNANCE, IMF
posted by MrK @ 1:44 PM
1 Comments:
On public expenditure and transparancy - the writer is absolutely right on.
One of the main reasons why 10s of millions are missing and hundreds of millions lie idle in local banks is because of lack of transparancy and accountability.
Public money should be accounted for from collection to expenditure. And this isn't difficult to do. What is needed is a system, and political will.
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