The date is not yet official. But according to our information, the heads of state of the Economic and Monetary Community of Central Africa (CEMAC) should meet face-to-face in August in Yaoundé during a summit where they will work mainly on the socioeconomic situation of the region. -region in a context marked by the depreciation of the terms of trade reinforced by the Coronavirus pandemic. After the sweep of emissaries dispatched by the Cameroonian Head of State Paul Biya, current president of CEMAC to his counterparts in the sub-region with a view to adopting the main orientations of the said meetings, it returns to the commission of the CEMAC to refine the preparations of the related files.
Pending this high mass of Central African leaders, an extraordinary council of ministers of the Central African Economic Union (UEAC) is scheduled for August 10 in Douala. Since Monday is already being held in the economic metropolis of Cameroon, a meeting of community commissioners under the leadership of the president of the CEMAC Commission Daniel Ona Ondo. Objective, to take stock of “the evolution of the macroeconomic situation in the CEMAC zone in the context of the Covid-19 pandemic and analysis of recovery measures”. Guidelines from the International Monetary Fund (IMF) go in this direction, while the country in the zone is requesting financing under the second phase of the Extended Credit Facility (ECF).
With a growth rate projected at 1.3% in 2021 against -1.7% in 2020 – due to this health crisis in particular – and inflationary pressures at 2.7% during the period under review, the CEMAC zone is not has not yet completely avoided the recession, especially as the fall in the price of oil, of which five of the six countries are producers and exporters, is not likely to arrange economies for the most part unipolar. In addition to the diversification of means of production to relaunch activities, it is a question of refining strategies allowing to count on long-term and double-digit growth to achieve the emergence projected in fifteen years. This means that the stake also lies “in the problem of how to revive economic activity in our sub-region. There is an abundance of ideas and we are well placed to nourish this reflection. There is a strong commitment from our heads of state to redress the situation, “said the president of the CEMAC Commission.
Still in relation to this news, the Steering Committee (COPIL) of the Economic and Financial Reforms Program (PREF-CEMAC) will be held on August 12, 2021 with particular emphasis on the progress of community projects, as well as the operationalization of the unified market, the Central African Securities Exchange (BVMAC). On the subject of reforms, emphasis will be placed on the evaluation of the ten integrative projects, where CEMAC had succeeded in mobilizing in November 2020 2,492.6 billion FCFA (3.8 billion euros) to enable the Central Africa to boost its development.