CEMAC : An extraordinary summit of Heads of State scheduled in Bangui
Dernière mise à jours il y'a 6 moisThe CEMAC leaders will meet in Bangui on August 9, 2025 for the 16th ordinary session of the conference of heads of state of the Cemac region , amid a context marked by weak foreign exchange reserves, resistance from extractive companies to monetary regulations, and delays in the merger project with the Economic Community of the Central African States.
Lire aussi : CEMAC : An extraordinary summit of Heads of State scheduled in Bangui
Central African President Faustin Archange Touadera,took the initiative to bring his peers together, where key discussions will likely revolve around : economic reforms that is mplementing structural reforms and prudent financial management.,strengthening monetary cooperation and potentially revisiting policies related to the CFA franc ,enhancing regional integration, particularly promoting the free movement of people and goods within the CEMAC zone ,boosting intra-community trade, which currently stands at a low 3.9% of total trade in the region. These topics are crucial for the region's economic growth and development . The August 9 meeting is also expected to address the CEMAC-ECCAS merger issue, following the last-minute postponement of the joint summit initially scheduled for July 18 in Yaounde. This summit was touted as crucial for establishing a unified economic and monetary space.The stakes of the Bangui summit can be deciphered based on the resolutions of the last extraordinary summit held in Cameroon in 2024 . They emphasized the urgent need for joint action, with a focus on implementing agreed-upon reforms already initiated several years ago. Like the import-substitution policies adopted by the 6 states to reduce imports, which still account for about 85 % of CEMAC's consumption and put enormous pressure on the community's foreign exchange reserves. Beyond key measures to be taken, particularly regarding budget consolidation, prudent debt policies, and rigorous management of banking risks and oil/mining revenues, the Heads of State and Government set a strict deadline of April 30, 2025, for oil and mining companies to sign escrow account agreements with the Bank of Central African States to repatriate their foreign exchange earnings and site restoration funds. The CEMAC region faces significant economic challenges, including weak foreign exchange reserves and resistance from extractive companies to monetary regulations. The region needs $277 billion annually until 2030 to effectively address climate challenges.
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Floyd Miles
Actually, now that I try out the links on my message, above, none of them take me to the secure site. Only my shortcut on my desktop, which I created years ago.