Public finances: a three party agreement for the struggle against money laundering

Austerity policy and home taxes management enhancements would be granting a fairly good situation to the state within this crisis. The public Treasury is keen on eliminating leaks denting the country’s economic general health system. A convention has been signed in cooperation with the independent anti-corruption office and the anti-money laundering service or SAMIFIN.  

The public treasury is, from now on, able to call for follow up for any controversial state transaction. Such cooperation has been motivated by the report of a certain number of breaches by the end of 2009. Some illegal practices have been fuelled by the fear of political changes by that time .  

The Public Treasury’s general direction reported unjustified expenditures as well as fictional ones within various administration departments. Bill boosting seems to be such an endemic problem everywhere, including the presidency, that Andry Rajoelina is compelled to ask for the Bianco’s investigation in order to clean his name. But results about Ambohitsorohitra’s problems will remain inside Ambohitsorohitra.  

The financial governance inspiring the three institutions bound by the convention is based on transparency and the repression of wrong doings, and targets the enhancement of the fight against  money laundering, the management of fair public returns and the fight against embezzlement in all of its shapes.  

Orlando Robimanana, public Treasury’s general director, denied the press’ allegations of state bankruptcy. “Newspapers often allege that state chesses are empty. The reality is that the state can provide for expenditures and wages, debt repays and administration’s running budget”. 

“The state’s financial situation cannot  be on top yet”, conceded Orlando Robimanana. “Public finances are having hard days”. Then he opposed the state’s led wage increases allegations while protecting the HAT anew against social claims. “This political crisis is having a nasty impact on public finances for sure; financial support is being suspended and state returns are lower” explained the Treasury’s general director. 

The agreement dealt with the SAMIFIN and the BIANCO is a way to improve national finances. “The public treasury is tackling the way to find finances in order to insure public services “, reiterated Orlando Robimanana. Cherishing large and lesser corporations trading with the state is a priority, according to him.  

As for money laundering, the authoritarian regime denounced the amounts of money sent abroad to finance contesting movements. The issue is fully political. The SAMIFIN’s general director referred to the international conventions of Vienna and Palermo when explaining that money laundering does not restrict to drug smuggle related money.”Any violation of the law generating incomes is part of money laundering”. Let us see how is the Public Treasury going to deal with the legalized Rhodes Oil plant traffic related money laundering case to be revealed by its partners.