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Yaoundé - 26 September 2021 -
Finance

CEMAC: BEAC resumes with liquidity absorption operations

CEMAC: BEAC resumes with liquidity absorption operations
  • Comments   -   Wednesday, 08 September 2021 13:17

(Business in Cameroon) - Last September 6, the Bank of Central African States (BEAC) launched an operation aimed at absorbing XAF100 billion liquidity from banks with excess liquidity. A similar operation was organized on August 30, 2021.

According to the central bank, the credit institutions concerned by that operation are those qualified as capital providers on the money market and those that have not requested refinancing from the BEAC in the twelve months before the operations.

The operations were suspended in March 2020 and replaced by liquidity injections to support the CEMAC banking system and boost financing to economies amid the coronavirus pandemic. This resumption of liquidity absorption operations indicates that the coronavirus pandemic’s impacts on CEMAC economies are easing. Even an economic recovery is forecasted for 2021 after the recession recorded in 2020.

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