(Business in Cameroon) - During a meeting of the monetary policy committee of BEAC, presided by the governor Abbas Mahamat Tolli (photo), in Ndjamena on July 25, 2018, it was revealed that many measures had been taken to improve the member countries’ external position. The governor revealed that to date, most of the foreseen actions had been implemented.
These measures are namely aimed at tightening the monetary policy, dynamizing the interbank market, rationalizing the outgoing transfers, the adoption of an emergency liquidity facility and acceleration of projects which will improve the quality of financial data.
The bank forecasts that thanks to these measures, CEMAC's real GDP growth should be 2.5% this year up from the 0.0% growth in 2017. The budgetary balance (donations included) should register a surplus of 0.5% of GDP in 2018 against a deficit of 3.3% in 2017. The currency’s external coverage rate should rise to 60.7% this year up from 57.5% last year.