At the end of the meeting of heads of state of the Economic Community of Central Africa (CEMAC), held October 25 in N’Djamena (Chad), a smile, tense certainly, was the rule. Devaluation is not among the main measures taken on the sidelines of this crucial meeting.
On the other hand, the coercive spirit of the extraordinary meeting of December 2016, marked, one remembers, by a kind of setting of the CEMAC Zone under provisional administration of the IMF, has not yet disappeared.
Clearly, the watchword remains the continued stabilization of foreign exchange reserves. In this context, States insisted, inter alia, on the full repatriation of export earnings and the strict application of the measures contained in the programs concluded with the IMF.
The Central Bank of the zone (BEAC) is called upon to pursue the application of all the measures under its purview for the end of the crisis and the maintenance of monetary and financial stability.
Specifically, the Central African Banking Commission (Cobac) is urged to strengthen prudential supervision of credit institutions to ensure financial stability.
