(Business in Cameroon) - Obviously, CEMAC member countries have progressed in the implementation of the six harmonization guidelines for public finance management issued by the steering committee of CEMAC’s economic and financial reform program (Programme des réformes économiques et financières de la Cemac-Pref-Cemac). This was revealed during the fifth meeting of the steering committee held on June 22, 2018, in Douala and presided by Gilbert Ondongo, the Congolese economy minister and president of the steering committee.

These guidelines are issued for modern, efficient, transparent management in order to ensure that the data on public finance are comparable in the framework of the multilateral surveillance within CEMAC.

The comittee indicates that on a case per case basis, Cameroon transmitted all of the first drafts of the transposing provisions related to the guidelines. The committe has already issued a notice of compliance as far as four of those drafts are concerned on October 26, 2017. The country is also implementing the observations as far as the remaining two are concerned.  

As for Gabon, Chad and Congo, they have already completed the transposing in their internal legal corpus.

As far as Central Africa is concerned, it has submitted the first drafts to the committee with a notice of compliance for all of them. The guidelines related to transparency and good governance in public finance’s management has been adopted in the country but, the five other are in the process of being adopted.

The last country, Equatorial Guinea transmited five drafts and the committee sent its observations on all the five texts.

S.A