logoBC
Yaoundé - 28 May 2022 -
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.

international-air-traffic-drops-by-62-in-cameroon-due-to-covid-19
The international air traffic in Cameroon fell by 62.04% from 868,788 to 357,564 passengers between 2019 and 2020. Domestic traffic also followed the same...
emile-parfait-simb-promoter-of-liyeplimal-arrested-for-cryptocurrency-scam
Emile Parfait Simb, the promoter of Global Investment Trading (better known as Liyeplimal), which specializes in cryptocurrency investments, was arrested...
cameroon-govt-completes-fundraising-for-automatic-toll-booth-project-launches-work
The Cameroonian government announced, via its Ministry of public work, (Mintp) that it has finally completed the fundraising for the construction of 14...
british-epc-joins-the-kribi-bitumen-plant-project
The British consulting firm Euro Petroleum Consultants (EPC), which specializes in petroleum and petrochemical projects, has just signed a "Project...

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 »