logoBC
Yaoundé - 27 January 2021 -

BannerICBC2021

Economy

Cemac: Ministries of Finance and Economy suggest cancellation of external debts to “deal with Covid-19” and “relaunch” post-pandemic economies

Cemac: Ministries of Finance and Economy suggest cancellation of external debts to “deal with Covid-19” and “relaunch” post-pandemic economies
  • Comments   -   Monday, 30 March 2020 10:36

(Business in Cameroon) - On March 28, 2020, the 3rd extraordinary meeting of the steering committee of the CEMAC Economic and Financial Reforms Programme (Pref-Cemac) was held in Brazzaville, Congo. The only point on the agenda was the economic and financial impacts of Covid-19 on the economy of CEMAC countries and a sketch of possible solutions.

At the end of the meeting, the Ministries of economy and finance of the member countries suggested countries should collectively negotiate the cancellation of their external debts.

According to the release published at the end of the meeting, this collective approach will give CEMAC countries “budgetary margins thanks to which they will be able to both deal with the pandemic and relaunch their economies on solid foundations” after the health crisis.

Let’s note that in its 2019 outlook of African economies, the AfDB revealed that the external debt of CEMAC countries was 27% of their GDP in 2018.  

S.A.

cameroon-matgenie-recorded-an-11-contract-fulfillment-rate-in-2019-due-to-cash-flow-problems
In 2019, the National Civil Engineering Equipment Depot-Matgénie (which became a construction company in 2015) won XAF12.4 billion worth of contracts....
ntui-mankim-road-sinohydro-s-selection-also-questioned-by-minmap-ibrahim-talba-malla
There is a new development in the case delaying the construction of the 96.7 km Ntui-Mankim road. Indeed, Chinese construction company Sinohydro was...
cameroon-inaugurates-tractafric-s-first-civil-engineering-machinery-assembly-plant-in-central-africa
On 23rd January 2021, in the back yard of a 2500 m2 building in which parts of civil engineering machinery and equipment can be seen, a loader, a...
cameroon-155-advertising-companies-approved-to-operate-this-year
Minister of Communication René Emmanuel Sadi recently published a list of 155 companies authorized to carry out advertising consulting and...

Mags frontpage


Business in Cameroon n94: December 2020

The rise of Cameroon’s automotive industry


The «Made in Cameroon» war


Investir au Cameroun n104 Décembre 2020

L’émergence d’une industrie automobile camer


La bataille du « Made in Cameroon »