logoBC
Yaoundé - 02 June 2020 -
Finance

CEMAC: IMF and BEAC to discuss cooperation axis for regional capital market development

CEMAC: IMF and BEAC to discuss cooperation axis for regional capital market development
  • Comments   -   Friday, 29 November 2019 14:01

(Business in Cameroon) - From December 2 to 6, 2019, the IMF’s Regional Technical Assistance Center for Central Africa (Afritac Centre) will conduct a mission at the Bank of Central African States (Beac) headquarters in Yaoundé, Cameroon, in the framework of its technical assistance programme concluded with the BEAC for capital market development.

According to the mission terms of reference, areas of interventions on which Afritac Centre could support BEAC’s efforts to develop the regional financial market will be identified and agreed upon during the period.

Let’s note that this market is supposed to compensate for the discontinuation, at the IMF's request in the framework of a sub-regional crisis response strategy, of the statutory advances (20% of their budget revenues) that BEAC used to grant to CEMAC member countries. The Bretton Woods institution encouraged the member countries to have recourse to alternative financing methods to fund their economies and in that regard, it welcomed the efforts made by sub-regional authorities to create a unified financial market.

Stéphane Billé

cameroon-loggers-request-50-reduction-of-customs-duties-on-processed-woods
On May 28, 2020, during an audience with the Minister of Forestry and Wildlife Jules Doret Ndongo, the president of the local wood exporters’ association...
societe-generale-chad-and-uba-gabon-join-the-list-of-cameroon-s-primary-dealers-on-the-beac-securities-market
There are now 21 banks in the CEMAC zone recruited as primary dealers by the Cameroonian government, for its fundraising operations on the public...
cameroon-the-reconstruction-of-sonara-will-cost-about-xaf250-billion-the-minee-says
On May 31, to mark the first anniversary of the fire that destroyed most of Cameroon’s National Refining Company Sonara (Société nationale de...
nexttel-vs-syntic-public-authorities-open-a-difficult-mediation-process
Since May 29, the regional delegation of the Ministry of Labour in the Littoral region has been trying to initiate mediation between Nexttel/Viettel...

Mags frontpage


Business in Cameroon n87: May 2020

Roads, dams, fiber optics, markets... Cameroon’s big projects toward integration


«Central Africa is facing enormous challenges» - AfDB


Investir au Cameroun n97 Mai 2020

Routes, barrages, fibre optique, marchés… Les grands chantiers camerounais de l’intégration


« L’Afrique centrale est confrontée à d’énormes défis » (BAD)