(Business in Cameroon) - Cameroon’s average liquidity ratio with the Bank of Central African States (BEAC) reached 182% in March this year, up from the 134% in 2016. This implies a significant drop in refinancing demand with the bank.
According to a report issued August 30 by the International Monetary Fund (IMF), this feat was achieved through an economic program, with the Bretton Woods institution, since June 2017 which helped the country increase cash deposits. IMF says in December 2017, Cameroon repaid the statutory advances issued by BEAC in Q2, 2017. Moreover, under the bank’s reforms for advances repayment, Cameroon signed an agreement on consolidating its outstanding amount (CFA577 billion) into a 14-year loan.
Let’s note that Cameroon deposited the advances issued at over CFA300 billion on a special account with the BEAC.
S.A