logoBC
Yaoundé - 27 January 2023 -
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-the-special-tax-on-petroleum-products-will-soon-be-extended-to-natural-gas-despite-gdc-s-request
The Cameroonian government is continuing its process to extend the special tax on petroleum products to natural gas, despite a request from Gaz du...
cameroon-acquires-a-pavilion-at-the-paris-agriculture-show-a-first-time
For the first time, Cameroon has acquired a pavilion at the Paris International Agricultural Show (SIA). This year, the event will take place from...
cameroon-hosts-afwa-symposium-on-drinking-water-production-distribution
The Cameroonian capital is hosting, starting today, a two-day international symposium on the management of companies active in the production and...
cameroon-memve-ele-dam-s-low-production-leads-to-rolling-blackouts-eneo
The Cameroonian population will soon experience episodes of rolling blackout, which the power utility Eneo blamed in a January 25 statement on the decline...

Mags frontpage


Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer


Albert Zeufack: “Today, the most important market is in Asia”


Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir


Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »