Finance Committee To Press Boi Chief On Banking Inquiry Response

Amadou Ba, general director of taxes and state property in the West African nation, will replace Amadou Kane as finance minister, Maxime Ndiaye, secretary-general in the presidency, told reporters yesterday in the capital, Dakar. Sidiki Kaba, a former president of the International Federation for Human Rights , replaces Aminata Toure as justice minister after she was appointed Senegals second female prime minister on Sept. 1. We want our fellow citizens to feel that their living conditions have improved, Toure told reporters after the new appointments were announced. Senegals $14.3 billion economy is forecast to grow 4.3 percent this year and 5.1 percent in 2014, according to the African Development Bank . The country plans to sell $500 million of 10-year international bonds later this year, the International Monetary Fund said in June. Standard and Poors has a B+ rating on Senegalese debt, which is four levels below investment grade and on par with Zambia and Albania. Ba, the incoming finance minister, helped boost total tax collection to 500 billion CFA francs ($1.8 billion) in 2012, while customs revenue grew to 502 billion CFA francs. Sall also removed Youssou NDour, a Grammy Award-winning singer, as the countrys tourism minister, while Budget Minister Abdoulaye Daouda Diallo was moved to the Interior Ministry. Makhtar Cisse, the general director of customs, was appointed deputy minister in charge of the budget.

Whilst the responses from other banks were clear, the one from Bank of Ireland was measured at best and reserved at worst, indicating a reluctance, Lynch told Whilst the predominant issue this week will be will be the banks offering sustainable solutions to homeowners, the matter of the Bank of Ireland response will also be an issue. Lynch said the meetings this week would provide the committee with a chance to examine lenders responses to the mortgage crisis in detail, particularly mortgage arrears and the target, that by the end of June 2013, banks should have proposed sustainable mortgage solutions for 20% of distressed borrowers. When the banks were last before us, there were no specific targets in place to provide solutions for homeowners in arrears. Those targets are now in place and, more specifically, we will consider how the individual banks are meeting their targets and ensuring that there is a consistency of approach in dealing with distressed borrowers. This afternoons AIB session begins at 2pm, and can be viewed online at . Richie Boucher will appear tomorrow morning, followed by Ulster Bank representatives at 2pm. PTSB CEO Jeremy Masding will appear before the TDs and senators on Thursday. Wealth tax?

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