logoBC
Yaoundé - 26 May 2020 -
Public management

CEMAC: Beac announces high-level conference for the launch of 2nd cycle of programs with the IMF

CEMAC: Beac announces high-level conference for the launch of 2nd cycle of programs with the IMF
  • Comments   -   Friday, 06 March 2020 15:58

(Business in Cameroon) - The Bank of Central African States (BEAC) will soon organize a high-level international conference in the framework of CEMAC countries’ 2nd programme with the IMF.

This is revealed in a release recently published by the bank. In the release, Abbas Mahamat Tolli (photos), Governor of the BEAC, indicates that in January 2020, he led a mission for a working visit to the IMF and the World Bank in Washington, US.

In line with CEMAC Head of States’ decision, IMF and BEAC’s executives emphasized on a pressing need to elaborate a 2nd program cycle resolutely focused on growth and poverty reduction objectives. They, therefore, agreed to now give priority to measures and policies aimed at boosting a job-generating and inclusive growth,” the governor explains.  

He also adds that the 2nd program cycle will be officially launched during the said high-level conference.

During the working visit, BEAC executives also met with Ceyla Pazarbasioglu [vice president, equitable growth, finance, and institutions at the World Bank Group] and Diarétou Gaye, World Bank Director of Strategy and Operations for the Africa region. During their meeting, they discussed the need to further the economic and financial reforms of CEMAC countries and institutions.  

The World Bank is ready to provide its support for this crucial step. Several integrative projects are already on the group's intervention list,” the release informs.  

For the implementation of the objectives of this 2nd program cycle, the governor of the BEAC stressed on the need to increase the funds granted to CEMAC member countries for the realization of projects such as integrative road projects and electricity connection.

During their meeting in late 2016, in Yaoundé, CEMAC countries agreed on a 3-year structural adjustment of their Economic and Fiscal Policies, with the support of institutions like the IMF.  Equatorial Guinea and Congo delayed the signature of their programme, which was completed in H2, 2019.

According to experts, CEMAC needs those programmes with the IMF to restore its external financial equilibrium.

Sylvain Andzongo

cameroon-obtained-xaf4-000-bln-of-investment-pledges-in-the-framework-of-the-2013-investment-promotion-law
In Cameroon, the investment promotion agency API signed 224 investment agreements, by May 2020, in the framework of the 2013 law encouraging private...
nexttel-staff-announce-indefinite-strike-from-june-7-2020
The union of ICT workers Syntic recently issued a strike notice which should be effective from May 22 to June 7, 2020 at Nexttel, the Cameroonian...
salt-production-company-sasel-to-double-production-capacity-with-xaf5-bln-investment
Salt production company Société africaine de sel (Sasel) plans to double its production capacity by expanding its Douala-Bonabéri plant, official sources...
israel-wants-to-share-its-technological-know-how-in-the-water-supply-sector-with-cameroon-the-israeli-ambassador-says
Isi Yanouka, Israel's newly appointed ambassador to Cameroon met with the Minister of Economy Alamine Ousmane Mey, on May 18, 2020 in Yaoundé. During the...

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)