logoBC
Yaoundé - 27 October 2021 -
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.

cameroonian-financier-louis-banga-ntolo-becomes-new-ceo-of-regional-stock-market-bvmac
At the end of a Board meeting on October 25, 2021, in Libreville, Cameroonian financier Louis Banga-Ntolo was confirmed CEO of the Central African Stock...
cameroon-and-car-join-forces-to-secure-cross-border-oil-product-deliveries
On October 21, 2021, Minister of Water and Energy Gaston Eloundou Essomba granted an audience to his Central African peer Arthur Bertrand Piri. During the...
cemac-beac-suggests-a-reform-of-legal-framework-to-spur-development-of-mobile-microcredits
In its recent report on the state of electronic payments in the CEMAC region in 2020, the Bank of Central African States (BEAC) points out that mobile...
bvmac-listed-microfinance-la-regionale-announces-10-5-yoy-growth-for-its-h1-2021-turnover
“LA Régionale”, the Cameroonian microfinance institution that entered the regional exchange market BVMAC last February, announces good performance for...

Mags frontpage


Business in Cameroon n104: October 2021

Dossier Where does Cameroon stand in international trade?


Henri-Claude Oyima : “BGFIBank Cameroon is truly one of our success stories.”


Investir au Cameroun n114: Octobre 2021

Dossier La place du Cameroun dans le commerce international


Henri-Claude Oyima : «BGFIBank Cameroun est vraiment l’une de nos success-stories.»