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Find all the economic and financial information on our Orishas Direct application to download on Play StoreThe Heads of State of the Economic and Monetary Community of Central Africa (CEMAC) held an extraordinary summit on August 18, 2021. The meeting is primarily devoted to "the evolution of the macroeconomic situation in the CEMAC zone in the context of the Covid-19 pandemic and the analysis of recovery measures".
The event initially planned in person in the Cameroonian capital Yaoundé, finally took place by videoconference, "not only for reasons related to the health crisis, but also for reasons of timing" say sources close to the file. Three distinguished guests enhanced the meeting with their presence, namely, the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, the French Minister of Economy and Finance, Bruno Le Maire and the President of the African Development Bank (AfDB) Group Akinwumi Adesina, not to mention the presence of the President of the CEMAC Commission, Daniel Ona Ondo. There was talk of renegotiating the new economic programmes or extending the old programmes with the IMF, taking into account the current socio-economic situation. Despite the low level of regional trade, which is around 3%, the CEMAC Commission makes Community integration one of its priorities and insists on the rigorous application of the provisions laid down in the new exchange regulations on the repatriation of export earnings and transfers, to continue the mobilization of non-oil revenues through the broadening of the tax base, to freeze non-priority public investments while preserving social spending, to conduct a reflection to propose in a more timely, the repurchase of securities or domestic public debts of States.
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