{"id":22276,"date":"2023-08-09T15:27:11","date_gmt":"2023-08-09T15:27:11","guid":{"rendered":"https:\/\/liberationinfo.com\/?p=22276"},"modified":"2023-08-09T15:27:11","modified_gmt":"2023-08-09T15:27:11","slug":"pourquoi-la-banque-centrale-de-la-republique-de-guinee-bcrg-devrait-etre-plus-independante-vis-a-vis-du-pouvoir-politique-abdoulaye-guirassy","status":"publish","type":"post","link":"https:\/\/liberationinfo.com\/index.php\/pourquoi-la-banque-centrale-de-la-republique-de-guinee-bcrg-devrait-etre-plus-independante-vis-a-vis-du-pouvoir-politique-abdoulaye-guirassy\/","title":{"rendered":"Pourquoi la Banque Centrale de la R\u00e9publique de Guin\u00e9e (BCRG) devrait \u00eatre plus ind\u00e9pendante vis-\u00e0-vis du pouvoir politique ? [Abdoulaye Guirassy]"},"content":{"rendered":"<nav class=\"bf-breadcrumb clearfix bc-top-style\" role=\"navigation\" aria-label=\"Breadcrumbs\">\n<div class=\"container bf-breadcrumb-container\">\n<p>&nbsp;<\/p>\n<\/div>\n<\/nav>\n<div class=\"content-wrap\"><main id=\"content\" class=\"content-container\"><\/p>\n<div class=\"container layout-2-col layout-2-col-1 layout-right-sidebar layout-bc-before post-template-1\">\n<div class=\"row main-section\">\n<div class=\"col-sm-8 content-column\">\n<div class=\"single-container\">\n<article id=\"post-236450\" class=\"post-236450 post type-post status-publish format-standard has-post-thumbnail  category-tribune single-post-content has-thumbnail\">\n<div class=\"entry-content clearfix single-post-content\">\n<div class=\"nrvaxlqhwf nrvaxlqhwf-post-top nrvaxlqhwf-float-center nrvaxlqhwf-align-center nrvaxlqhwf-column-1 nrvaxlqhwf-clearfix no-bg-box-model\">\n<div id=\"nrvaxlqhwf-223661-2007324238\" class=\"nrvaxlqhwf-container nrvaxlqhwf-type-custom_code \"><ins class=\"adsbygoogle\" data-ad-client=\"ca-pub-1870189416508001\" data-ad-slot=\"4596184177\" data-ad-format=\"auto\" data-full-width-responsive=\"true\" data-adsbygoogle-status=\"done\" data-ad-status=\"filled\"><\/p>\n<div id=\"aswift_0_host\"><\/div>\n<p><\/ins><\/div>\n<\/div>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">L\u2019ind\u00e9pendance d<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">es<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0banque<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0centrale<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s est<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0un sujet de controverse et de divergences entre \u00e9conomistes.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Des \u00e9conomistes\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">comme\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">Alex\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">CUKIERMAN (1992),\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">Alberto\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ALESINA-<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">Lawrence\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">SUMMERS (1993) et\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">Robert J.\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">BARRO (1997), soutiennent que l\u2019ind\u00e9pendance de la banque centrale est n\u00e9gativement reli\u00e9e \u00e0 la croissance de la masse mon\u00e9taire et \u00e0 l\u2019inflation, en d\u2019autres termes, un niveau \u00e9lev\u00e9 d\u2019ind\u00e9pendance favorise des taux moyens d\u2019inflation et de croissance de la masse mon\u00e9taire faible, ce qui se traduit par une stabilit\u00e9 mon\u00e9taire plus\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">grande.\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">Cette\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ind\u00e9pendance<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0permet ainsi aux autorit\u00e9s mon\u00e9taires d\u2019engager en toute libert\u00e9 des reformes sans la moindre contrainte\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">des politiques\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">en vue de maitriser l\u2019inflation.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Ces \u00e9conomistes parviennent \u00e0 la conclusion selon laquelle, les reformes l\u00e9gales et r\u00e9glementaires destin\u00e9es \u00e0 conf\u00e9rer une plus grande ind\u00e9pendance \u00e0 la banque centrale sont de nature \u00e0 contenir l\u2019inflation \u00e0 des niveaux raisonnables.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Le raisonnement de ces \u00e9conomistes semble\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00eatre \u00e9tay\u00e9<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0par l\u2019histoire\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">mon\u00e9taire\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">de<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0certains pays d\u00e9velopp\u00e9s comme l\u2019<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">Allemagne<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0o\u00f9 la Bundesbank<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">,<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0avant la cr\u00e9ation de Banque Centrale<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">Europ\u00e9enne<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0(BCE)<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">,<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0enregistr<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ait<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0des meilleures performances en mati\u00e8re de lutte contre l\u2019inflation et la stabilit\u00e9 mon\u00e9taire.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">En revanche\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">d\u2019autres \u00e9conomistes comme Milton FRIEDMAN (1968), s\u2019oppose<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">nt<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0\u00e0 l\u2019id\u00e9e de l\u2019ind\u00e9pendance de la banque centrale, en consid\u00e9rant la monnaie comme\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00e9tant\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">un bien public trop pr\u00e9cieux pour \u00eatre soumis \u00e0 la guise d\u2019une banque centrale, le gouvernement doit donc prendre une part active dans l\u2019orientation et la gestion des questions mon\u00e9taires.\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">Selon cet<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">argumentaire<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">, u<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ne v\u00e9ritable ind\u00e9pendance de la banque centrale ne saurait exister<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">L<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">a position de ces \u00e9conomistes semble \u00e9galement tenir la route, car \u00e0 chaque fois qu\u2019une opposition s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">e manifestait<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">entre un gouvernement et les autorit\u00e9s mon\u00e9taires, l\u2019exp\u00e9rience prouve que c\u2019est la banque centrale qui c\u00e8de et non le gouvernement. Il est \u00e9vident que m\u00eame les banques centrales r\u00e9put\u00e9es ind\u00e9pendantes, sont tacitement inf\u00e9od\u00e9es au<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">x<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">gouvernemen<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ts<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">, et mieux selon ces \u00e9conomistes, l\u2019instauration d\u2019une banque centrale ind\u00e9pendante est intol\u00e9rable sur le plan politique. Ces derniers reprochent\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">aux<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0banque<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0centrale<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0d\u2019avoir une diss\u00e9mination des responsabilit\u00e9s par le fait que le\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">pouvoir mon\u00e9taire et budg\u00e9taire ne rel\u00e8ve pas de la m\u00eame hi\u00e9rarchie, ce qui a pour effet de permettre \u00e0 cha<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">que partie<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0de rejeter la responsabilit\u00e9 sur l\u2019autre,\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">et l\u2019ind\u00e9pendance<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0suppose que ces pouvoirs soient jumel\u00e9s pour situer\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">les\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">niveaux<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0de\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">responsabilit\u00e9<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">ce qui\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">serait\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">inconcevable et inadmissible<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">selon ces<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">\u00e9conomistes<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Dans l<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">a pratique\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">aucun gouvernement ne souhaite octroyer une pleine et enti\u00e8re ind\u00e9pendance \u00e0\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">a banque centrale, les relations se traduisent plut\u00f4t par une relation de d\u00e9pendance,\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">par le fait que\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">la politique mon\u00e9taire ne serait qu\u2019un outil de la politique \u00e9conomique d\u2019ensemble du gouvernement.<\/span><\/span><\/p>\n<div class=\"nrvaxlqhwf nrvaxlqhwf-post-middle nrvaxlqhwf-float-center nrvaxlqhwf-align-center nrvaxlqhwf-column-1 nrvaxlqhwf-clearfix no-bg-box-model\">\n<div id=\"nrvaxlqhwf-223661-670770387\" class=\"nrvaxlqhwf-container nrvaxlqhwf-type-custom_code \"><ins class=\"adsbygoogle\" data-ad-client=\"ca-pub-1870189416508001\" data-ad-slot=\"4596184177\" data-ad-format=\"auto\" data-full-width-responsive=\"true\" data-adsbygoogle-status=\"done\" data-ad-status=\"filled\"><\/p>\n<div id=\"aswift_1_host\"><\/div>\n<p><\/ins><\/div>\n<\/div>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">La situation de la banque centrale du japon\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">corrobore<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0largement<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">c<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">e point de vue,\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">car bien qu\u2019ayant\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">un niveau d\u2019ind\u00e9pendance tr\u00e8s faible, la\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">B<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">anque\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">C<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">entrale du japon a toujours r\u00e9alis\u00e9 des performances \u00e9logieuses en mati\u00e8re de\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">maitrise de<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">l\u2019inflation et de la stabilit\u00e9 mon\u00e9taire.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">De cette diversit\u00e9 de visions\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">sur le\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">concept d\u2019ind\u00e9pendance<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0de la banque centrale,\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">les \u00e9tudes empiriques font appara\u00eetre<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0clairement que\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">l\u2019ind\u00e9pendance de la banque centrale p<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ourrait<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">effectivement\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">favoriser la\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">maitrise\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">de\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">l\u2019inflation\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">tout en offrant<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0une<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">plus grande\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">stabilit\u00e9 mon\u00e9taire.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">L<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u2019ind\u00e9pendance<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0dans la conduite de la politique mon\u00e9taire de fa\u00e7on globale<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0recouvre trois dimensions essentielles \u00e0 savoir :\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">L\u2019<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ind\u00e9pendance manag\u00e9riale,\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">L\u2019<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ind\u00e9pendance op\u00e9rationnelle et\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">L<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u2019ind\u00e9pendance financi\u00e8re.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Le besoin d\u2019ind\u00e9pendance<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0des banqu<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">iers<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0centra<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ux<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">d\u00e9pend surtout de la nature<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0de la\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">gouvernance<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">et<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0de la rigueur dans la\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">conduite<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0de la politique \u00e9conomique<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">d\u2019ensemble\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">d<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">u<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0pays<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Au sein des<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0\u00e9conomies d\u00e9velopp\u00e9es<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">,<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0l\u2019\u00e9pineuse question d\u2019ind\u00e9pendance<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0des banques centrales<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0est sans grande importance, car les banques centrales sont g\u00e9n\u00e9ralement rigoureuses et disciplin\u00e9es.\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">Cependant<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">,<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0dans les pays en d\u00e9veloppement o\u00f9 les banquiers centraux d\u00e9pendent des pouvoirs politiques<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">,<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0desquels\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">pouvoirs existeraient<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0parfois<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">sans contrainte \u00e9lectorale, cette question retrouve tout son<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">sens\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00e0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0cause de la crise de r\u00e9putation et de cr\u00e9dibilit\u00e9 des autorit\u00e9s mon\u00e9taires.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">L\u2019ind\u00e9pendance d<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u2019une\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">banque centrale suppose des conditions d\u2019ordre technique et politique<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0:<\/span><\/span><\/p>\n<p class=\"s5\">\n<p class=\"s5\"><span class=\"s6\"><span class=\"bumpedFont15\">Conditions techniques<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Les conditions techniques d\u2019une v\u00e9ritable ind\u00e9pendance de la banque centrale sont\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">les suivantes<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">:<\/span><\/span><\/p>\n<div class=\"s8\"><span class=\"s7\">\u2013\u00a0<\/span><span class=\"s4\"><span class=\"bumpedFont15\">l<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">e caract\u00e8re irr\u00e9vocable de la nomination d<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">es<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">gouverneur<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">et autres dirigeants pendant la dur\u00e9e de leur mandat<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">;<\/span><\/span><\/div>\n<div class=\"s8\"><span class=\"s7\">\u2013\u00a0<\/span><span class=\"s4\"><span class=\"bumpedFont15\">l\u2019interdiction\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ou limitation\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">faite \u00e0 la banque centrale de financer le d\u00e9ficit public<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0;<\/span><\/span><\/div>\n<div class=\"s8\"><span class=\"s7\">\u2013\u00a0<\/span><span class=\"s4\"><span class=\"bumpedFont15\">la\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">possibilit\u00e9 pour le gouverneur de collaborer avec un coll\u00e8ge de personnalit\u00e9s non li\u00e9es au pouvoir politique<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0;<\/span><\/span><\/div>\n<div class=\"s8\"><span class=\"s7\">\u2013\u00a0<\/span><span class=\"s4\"><span class=\"bumpedFont15\">l<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u2019autonomie<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0pleine et enti\u00e8re<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0de la banque centrale<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span><\/div>\n<p class=\"s5\"><span class=\"s6\"><span class=\"bumpedFont15\">Conditions politiques \u00a0 \u00a0<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Ces conditions concernent la solution consensuelle des partis politiques sur\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">l\u2019\u00e9laboration d<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">es diff\u00e9rentes missions d\u00e9volues \u00e0 la banque centrale, la lib\u00e9ralisation de la politique mon\u00e9taire avec les interventions de la banque centrale sur les march\u00e9s financiers.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">En tout \u00e9tat de cause, l\u2019exp\u00e9rience de la gestion de la politique mon\u00e9taire dans les pays d\u00e9velopp\u00e9s et celle des pays\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">en voie de d\u00e9veloppement\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">d\u00e9montrent \u00e0 suffisance la relation positive entre la stabilit\u00e9 mon\u00e9taire et l\u2019ind\u00e9pendance de la banque centrale. \u00a0G\u00e9n\u00e9ralement les pays \u00e0 faible inflation sont ceux dont les autorit\u00e9s mon\u00e9taires disposent d\u2019une marge de man\u0153uvre et une libert\u00e9 d\u2019action plus large.<\/span><\/span><\/p>\n<p class=\"s10\"><span class=\"s9\"><span class=\"bumpedFont15\"><\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s2\"><span class=\"bumpedFont15\">L\u2019ind\u00e9pendance de la banque centrale (cas de la BCRG) \u00a0 \u00a0<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">L\u2019ind\u00e9pendance de la banque centrale comme nous l\u2019avions dit, exige des conditions technique<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0et politique<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Selon\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ses statuts,\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">la B<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">anque\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">C<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">entrale de la\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">R<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00e9publique de\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">G<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">uin\u00e9e<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0est une institution dot\u00e9e\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">de la personnalit\u00e9 juridique,\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">d<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">e l\u2019<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">autonomie financi\u00e8re<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">et de gestion<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0qui rel\u00e8ve de la pr\u00e9sidence de<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0la<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">r\u00e9publique<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">S<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">a structure\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">organi<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">sationnelle<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">e<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">t<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">compos\u00e9e<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0d\u2019un conseil d\u2019administration<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">,\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">d<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u2019<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">u<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">n<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">gouverneur<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">, de deux<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0vice-gouverneur<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s, d\u2019un comit\u00e9 de politique mon\u00e9taire, d\u2019un comit\u00e9 d\u2019audit<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">et\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">d\u2019un conseil de cabinet<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Les membres du Comit\u00e9\u0301 de Politique Mon\u00e9taire et du Conseil d\u2019Administration sont nomm\u00e9s par d\u00e9cret sur proposition conjointe du Ministre charge\u0301 des Finances et du Gouverneur<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0pour un mandat de cinq (5)\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ans renouvelables<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0une fois<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">et ne doivent pas faire partie du personnel de la Banque Centrale.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Quant<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0au\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">Gouverneur et\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">les<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0deux (2) Vice-gouverneurs, il<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0sont\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">nomm\u00e9s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0par\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">d\u00e9cret\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">pour une\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">dur\u00e9e<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0de cinq (5) ans, renouvelable une fois<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0et doivent \u00eatre choisis<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0parmi\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">les personn<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">alit\u00e9s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">disposant de\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">comp\u00e9tences<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0et d\u2019<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">exp\u00e9riences<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">professionnelles dans les domaines\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00e9conomique<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">, financier,\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">mon\u00e9taire<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">, juridique ou comptable.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">L<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">e<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0statut de la BCRG autorise \u00e0 consentir des avances \u00e0 l\u2019<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00c9<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">tat<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0\u00e0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0une<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0hauteur\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">raisonnable<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0des recettes budg\u00e9taires de<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0ann\u00e9e<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">ant\u00e9rieure<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Force est de reconnaitre que ces am\u00e9nagements juridiques se d\u00e9marquent tr\u00e8s nettement de la r\u00e9alit\u00e9 des\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">pratiques constat\u00e9es<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">dans le fonctionnement de la Banque Centrale de la R\u00e9publique de Guin\u00e9e<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">D<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ans l\u2019histoire mon\u00e9taire de\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">notre pays<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">, jamais un gouverneur n\u2019a pr\u00eat\u00e9 serment apr\u00e8s sa nomination<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">conform\u00e9ment au texte en la mati\u00e8re, hormis les prestations de serment collectifs organis\u00e9es par le CNRD, cette situation est une violation flagrante des statuts de la BCRG \u00a0qui\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">pr\u00e9voient<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0que \u00ab\u00a0le gouverneur et les deux vice-gouverneurs<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0pr\u00eatent serment devant le Pr\u00e9sident de la R\u00e9publique avant de prendre fonction de bien et fid\u00e8lement diriger la Banque Centrale conform\u00e9ment aux lois et aux statuts de la BCRG<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0\u00bb<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Bien que ces m\u00eames statuts pr\u00e9voient la pr\u00e9sidence de la r\u00e9publique comme tutelle de la BCRG, il serait judicieux que c<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">e rattachement de la banque\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">centrale \u00e0 la\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">P<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">r\u00e9sidence de\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">R<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00e9publique\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">soit \u00e9tabli sous forme de relation fonctionnelle et non celle d\u2019une subordination.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Le<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0caract\u00e8re irr\u00e9vocable de la nomination d<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">es<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">gouverneur<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">et autres dirigeants pendant la dur\u00e9e de leur mandat<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">est syst\u00e9matiquement\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">viol\u00e9<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">S<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">elon<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">les statuts de la BC<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">RG,<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0\u00ab\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">le Gouverneur et ses vice-Gouverneurs ne peuvent \u00eatre relev\u00e9s de leurs fonctions\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">au cours de leur mandat uniquement que pour raison de faute professionnelle ou d\u2019incapacit\u00e9 physique<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">et cela\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">par d\u00e9cret\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">du Pr\u00e9sident de la R\u00e9publique sur recommandation du Conseil d\u2019Administration. A cette occasion une majorit\u00e9\u0301 simple des membres du Conseil d\u2019Administration est requise<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0\u00bb<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Dans l<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">a pratique<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">et ce\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">d<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">epuis<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0notre\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ind\u00e9pendance<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">, la<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0nomination des dirigeants successifs (gouverneurs, vice-gouverneurs) d\u00e9pend de l\u2019humeur du pr\u00e9sident de la R\u00e9publique qui use de son pouvoir discr\u00e9tionnaire sans \u00e9gard au mandat de ces derniers;<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">L\u2019interdiction<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">ou\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">la\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">limitation\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">faite \u00e0 la\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">Ba<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">nque\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">C<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">entrale de financer le d\u00e9ficit public<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">est largement transgress\u00e9e<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">par la BCRG<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">C<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ette violation est due\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">aux<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0pression<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0politique<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0exerc\u00e9e<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0par les gouvernements successifs sur les autorit\u00e9s mon\u00e9taires. Pourtant\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">le plafonnement\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">l\u00e9gale<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0des avances de la banque centrale au tr\u00e9sor\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">est un\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">rubicon<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0\u00e0\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ne pas franchir<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0pour la maitrise de\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">l\u2019inflation.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Or en Guin\u00e9e, les<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0besoins de financement de l\u2019\u00c9tat ont s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ouvent<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0\u00e9t\u00e9 couverts par le cr\u00e9dit bancaire interne. Pour Preuve<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">,<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0selon le FMI entre 2009-2010, le cr\u00e9dit net \u00e0 l\u2019\u00c9tat a tripl\u00e9 en passant de 0,2% du PIB en 2008 \u00e0 6% en 2009 et\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">jusqu\u2019\u00e0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a011% en 2<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">010,<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">dans ces conditions, la masse mon\u00e9taire au sens large aura plus que doubl\u00e9<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0durant ces ann\u00e9es<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">. Le caract\u00e8re volatile des montants en pourcentage du PIB d\u00e9note le non-respect de<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">plafonnements<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0l\u00e9gaux<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Notons qu\u2019en\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">2021\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">l\u2019encours brut<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0des avances de la BCRG au tr\u00e9sor \u00e9tait \u00e0 hauteur de 1,8% du PIB dont 1,2<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">% accumul\u00e9s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0en 2020<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0ce qui est une embellie appr\u00e9ciable<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0\u00e0 l\u2019honneur des autorit\u00e9s mon\u00e9taires<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">L<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u2019autre unit\u00e9 de mesure de l\u2019ind\u00e9pendance<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0de la banque centrale<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">,<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0est la\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">possibilit\u00e9 pour le gouverneur de collaborer avec un coll\u00e8ge de personnalit\u00e9s non li\u00e9es au pouvoir politique<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">;<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0et mieux<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">,<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0les<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0haut<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0fonctionnaire<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0de la BCRG doivent faire montre d\u2019honorabilit\u00e9 en s\u2019abstenant d\u2019exercer des activit\u00e9s politiques comme l\u2019a \u00e9t\u00e9 l\u2019ancien\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">vice-gouverneur<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0et parrain national du\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">PUP<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0sous l\u2019\u00e8re du Pr\u00e9sident Lansana Cont\u00e9<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0ou du gouverneur et les\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">vice-<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">gouverneurs<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0du r\u00e9gime pr\u00e9c\u00e9dent<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0qui \u00e9taient aux avant-poste de la\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">promotion<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0en faveur du troisi\u00e8me mandat du pr\u00e9sident de la r\u00e9publique sortant.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Pour<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0pallier ces sorties de pistes<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0aux antipodes de l\u2019orthodoxie<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0mon\u00e9taire<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">,\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">l<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">es\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">textes<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0r\u00e9gissant le fonctionnemen<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">t de la BCRG doi<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">vent\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">clairement faire mention de l\u2019interdiction<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0faite \u00e0 ses<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0dirigeants de s\u2019ing\u00e9rer dans les activit\u00e9s politiques<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0tout en garantissant l<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u2019autonomie<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0pleine et enti\u00e8re<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0de la banque centrale<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">C<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">es mesures permettront \u00e0\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">la BCRG d<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u2019<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">agir sans interf\u00e9rence\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ext\u00e9rieure<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0dans la gestion op\u00e9rationnelle de ses activit\u00e9s et l\u2019exercice des choix strat\u00e9gique<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0du Comit\u00e9 de\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">P<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">olitique\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">M<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">on\u00e9taire<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">,<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0la seule<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0boussole\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">susceptible de<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0guider<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">les choix strat\u00e9giques<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0doit\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">demeure<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">r<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">la stabilit\u00e9 mon\u00e9taire<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0et non<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">une injonction fut elle celle du gouvernement.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Les conditions politiques<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0quant \u00e0 elle<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0r\u00e9sident<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">dans la solution consensuelle des partis politiques dans la validation des orientations strat\u00e9giques de la BCRG \u00e0 travers la repr\u00e9sentation nationale (CNT, Assembl\u00e9e Nationale)<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">De ce qui pr\u00e9c\u00e8de, il apparait clairement que le fonctionnement de la BCRG s\u2019\u00e9carte dans une certaine mesure du statut<\/span><\/span>\u00a0<span class=\"s4\"><span class=\"bumpedFont15\">qui l\u2019a r\u00e9gi et les conditions techniques d\u2019une v\u00e9ritable ind\u00e9pendance de la BCRG ne sont nullement respect\u00e9es.<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">La refondation et la rectification institutionnelle pr\u00f4n\u00e9es par le CNRD doivent in\u00e9luctablement inclure la refondation de notre syst\u00e8me \u00e9conomique en g\u00e9n\u00e9ral et celui du secteur mon\u00e9taire en particulier, en vue de tirer les meilleurs dividendes de la stabilit\u00e9 du cadre macro\u00e9conomique guin\u00e9en.<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0\u00a0<\/span><\/span><\/p>\n<p class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">Le respect scrupuleux\u00a0<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">des textes en vigueur et des autres conditions d\u2019ind\u00e9pendance techniques et politiques<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">, permettr<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">ont<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0d\u00e9finitivement<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">\u00a0l\u2019ancrage de notre banque centrale dans le concert des banques o\u00f9 la stabilit\u00e9 mon\u00e9taire sera un acquis par le biais de la maitrise de l\u2019inflation<\/span><\/span><span class=\"s4\"><span class=\"bumpedFont15\">.<\/span><\/span><\/p>\n<p class=\"s5\"><strong><span class=\"s4\"><span class=\"bumpedFont15\">Abdoulaye GUIRASSY<\/span><\/span><\/strong><\/p>\n<p class=\"s12\"><span class=\"s13\"><span class=\"bumpedFont15\">Economiste-Politologue<\/span><\/span><\/p>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/main><\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; L\u2019ind\u00e9pendance des\u00a0banques\u00a0centrales est\u00a0un sujet de controverse et de divergences entre \u00e9conomistes. Des \u00e9conomistes\u00a0comme\u00a0Alex\u00a0CUKIERMAN (1992),\u00a0Alberto\u00a0ALESINA-Lawrence\u00a0SUMMERS (1993) et\u00a0Robert J.\u00a0BARRO (1997), soutiennent que l\u2019ind\u00e9pendance de la banque centrale est n\u00e9gativement reli\u00e9e \u00e0 la croissance de la masse mon\u00e9taire et \u00e0 l\u2019inflation, en d\u2019autres termes, un niveau \u00e9lev\u00e9 d\u2019ind\u00e9pendance favorise des taux moyens d\u2019inflation et de croissance de [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":22277,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-22276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-societe"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/liberationinfo.com\/wp-content\/uploads\/2023\/08\/IMG_3784.jpeg?fit=1289%2C939&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/liberationinfo.com\/index.php\/wp-json\/wp\/v2\/posts\/22276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/liberationinfo.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/liberationinfo.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/liberationinfo.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/liberationinfo.com\/index.php\/wp-json\/wp\/v2\/comments?post=22276"}],"version-history":[{"count":0,"href":"https:\/\/liberationinfo.com\/index.php\/wp-json\/wp\/v2\/posts\/22276\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/liberationinfo.com\/index.php\/wp-json\/wp\/v2\/media\/22277"}],"wp:attachment":[{"href":"https:\/\/liberationinfo.com\/index.php\/wp-json\/wp\/v2\/media?parent=22276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/liberationinfo.com\/index.php\/wp-json\/wp\/v2\/categories?post=22276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/liberationinfo.com\/index.php\/wp-json\/wp\/v2\/tags?post=22276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}