Politics




Cameroon:Paul Biya chairs crucial CEMAC summit today

Heads of State and government of the six member states of the Economic and Monetary Community of the Central African…

Cameroon:Paul Biya chairs crucial CEMAC summit today

Heads of State and government of the six member states of the Economic and Monetary Community of the Central African Sub Region, CEMAC meet on August 18 for an extraordinary summit.

Summoned by the Head of State, Paul Biya, member states are meeting to discuss key issues plaguing the sub region in the past year.

Beyond issues of common interest which will be thoroughly examined, the summit is expected to be devoted on the “report on the evolution of the macroeconomic situation in the CEMAC zone in the context of the Covid-19 pandemic and analysis of remedial measures,” according to the President of the CEMAC Commission, Daniel Ona Ondo.

The summit is being held within a particular context marked by security concerns in the sub region, the implementation of the African Continental Free Trade Area, the deadline for the first generation of programs with the International Monetary Fund (IMF), negotiations and conclusions of a second phase of economic and financial programs between Brettons Woods and the CEMAC countries within the framework of the Extended Credit Facility (ECF) and the Extended Credit Mechanism (ECM) and especially the health crisis linked to the coronavirus, the devastating effects of which have deconstructed the production mechanism.

The next summit constitutes a decisive phase for the future of CEMAC both in the perspective of post-COVID economic recovery and on the community integration where the implementation of certain decisions is still expected due to blockages maintained by States, not forgetting the appointments in sub-regional institutions to provide an adequate response to the lapse of mandates.

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