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[ 10/19/2010 11:52:59 PM ]
APANEWS
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Burundi - Economy and Finances
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Rise of gasoline pump price in Burundi
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| The pump price of gasoline price has risen from Frbu 1,700 ($1.3) to Frbu 1,730 and also diesel fuel costs have gone up from Frbu 1,670 to Frbu 1,720, while the oil selling price is Frbu 1,420.
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The increase, which occurred for the third time this year, came to happen despite the low standard of living of the population, as noted by several civil society organizations claiming that the government should provide strategic stocks to cut down prices.
The rise of fuel costs is not driven by inflation, but is based on constitutional provisions.
The minister of Trade, Industry, Posts and Tourism referred to, amongst others, the law fixing the state’s budget of Burundi for the fiscal year 2010 as well as provisions stipulating excise duties on fuels.
The climb in the fuel prices which caused the fluctuations of commodities markets, took place as fuel dealers failed last week to raise prices.
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IMF Executive Board Completes Second Review Under the Extended Credit Facility Arrangement for Burundi and Approves US$7.6 Million Disbursement
The Executive Board of the International Monetary Fund (IMF) has completed the second review of Burundi's performance under the program supported by the Extended Credit Facility (ECF). The Executive Board's decision will allow for the disbursement of an amount equivalent to SDR 5 million (about US$7.6 million), bringing disbursements under the arrangement to an amount equivalent to SDR 10 million (about US$15.3 million). The Executive Board's decision was taken on a lapse of time basis.1 Burundi's three-year ECF arrangement was approved on January 27, 2012 (See Press Release No.12/35).
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Burundian court reduces journalist's jail term
An appeals court in Burundi today dropped terrorism charges against jailed journalist Hassan Ruvakuki and reduced his sentence from life to three years in prison, according to local journalists and news reports.
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Burundi's National Assembly passes 2013 budget bill
The Burundian parliament's lower chamber, the National Assembly has passed the bill on the East African country's budget for 2013, which stands at 880 million U. S. dollars, up from this year's 744 million dollars.
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Burundi's president appoints new EAC minister
Burundian President Pierre Nkurunziza appointed Leontine Nzeyimana as the minister at the presidential office in charge of East African Community (EAC) affairs, a presidential decree said here on Wednesday.
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Burundi uses thermal energy to tackle crisis
During the second half of the year 2011, Burundi suffered the worst energy crisis characterized by power load shedding during which some suburbs in the east African nation's capital Bujumbura could spend three of four consecutive days without electricity, thus paralyzing activities of small and medium-sized businesses.
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Burundi death squads killed 300: rights group
Government-backed death squads have killed more than 300 members of Burundi's former rebel group and opposition supporters in covert operations over the past five months, a rights group said Tuesday.
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