Council of Ministers to approve and submit to Parliament a 2017
draft budget in line with the macroeconomic framework of the
ECF-supported program. The budget will transparently reflect a
capital transfer to further reduce DAB’s lender of last resort
exposure to Kabul Bank, consistent with repaying the remaining
balance in full by end-2019. Budget to include an explicit
allocation for the settlement of a Ministry of Finance obligation to
the Kabul Bank Receivership amounting to US$50 million.
At R1, requirements were completed in March 2017.
Rationale: Preserve macroeconomic stability