In the face of the disinterest of States, the Bank of Central African States (Beac) puts an end to its operation to buy back public securities. According to a publication of the Beac, the program which is already at its end will not be renewed.

"The secondary market buyback program is coming to an end at the end of August 2021 and will not be renewed." This is an excerpt from an article on "the evaluation of the measures adopted by the Central Bank in response to the Covid-19 pandemic", published in the latest edition of "La lettre de la recherche", a publication of the Bank of Central African States (Beac). Through this revelation made under the pen of Ivan Bacale Ebe Molina, the Director General of Studies, Finance and International Relations of the Beac, the central bank seems to recognize the mixed nature of the expected results of this operation, which nevertheless aimed to provide up to 600 billion CFA francs to the CEMAC States (Cameroon, Congo, Gabon, Chad, CAR and Equatorial Guinea), to help them respond to the coronavirus pandemic.

Indeed, according to the central bank's own statistics, as of May 31, 2021, the four CEMAC countries that have joined the share buyback program (Cameroon, Gabon, Congo and Chad), whose first operations took place in November 2020, have benefited from financial assistance totalling CFAF 215.6 billion, i.e. 5.7% of the total outstanding amount of public securities issued on the Beac market at the end of May 2021. Clearly, after a sluggishness observed around this program of repurchase of securities between September and October 2020, then an extension of the operation of six months from March 2021, the funds raised by the CEMAC countries at the end of May 2021, thanks to this funding mechanism, represent only a little more than a third of the envelope made available to them. In addition, countries such as the CAR and Equatorial Guinea, whose financing needs are notorious, did not believe they had to join this Beac initiative.