Yaoundé - 23 September 2020 -

CEMAC: Foreign reserves estimated at XAF5,348.8 bln, representing 5 months of imports on May 10, 2020

CEMAC: Foreign reserves estimated at XAF5,348.8 bln, representing 5 months of imports on May 10, 2020
  • Comments   -   Wednesday, 13 May 2020 12:07

(Business in Cameroon) - The Bank of Central African States (BEAC) informs that as of May 10, 2020, its foreign exchange reserves are estimated at XAF5,348.8 billion. They represent about five months of imports for an external coverage rate of 74.16%.

Compared with the situation a year earlier when the said reserves were estimated at XAF4,113 billion on May 10, 2019 (for an external coverage rate of 63.55%), this represents a 30% YoY increase.  

According to the Central Bank, this performance is due to the effective implementation of foreign exchange regulations (repatriation and retrocession notably). It is also favoured by the actions of CEMAC member countries to control the impact of the coronavirus health crisis on their economies with the help of development partners.

The Central Bank adds that the Covid-19 pandemic has not affected the level of CEMAC countries’ foreign exchange reserves, which remains comfortable.

Sylvain Andzongo

Cameroon's Directorate-General of Customs recently hosted a meeting aimed at ensuring the consistency of the draft regulation on the creation,...
Thanks to Hilli Episeyo (the floating natural gas liquefaction plant commissioned off the coast of Kribi in 2018), Cameroon has become one of the four...
In Q2-2020, the treasury bills issued by Cameroon, Gabon, and Congo (to a lesser extent) were the most sought after, according to the quarterly bulletin...
In Q2-2020, the global prices of agricultural products exported by CEMAC countries dropped by 7.6%, according to the commodity price index recently...

Mags frontpage

Business in Cameroon n91: September 2020

Covid-19 Insights from entrepreneurs

Land squabbles between citizens and the government

Investir au Cameroun n101 Septembre 2020

Covid-19 Des entrepreneurs s’expriment

Les populations défendent leur patrimoine foncier

  1. Most read 7 days
  2. shared 1 month
  3. read 1 month