The Monitoring unit of the Economic and Financial Reforms Program of the Central African Economic and Monetary Community (PREF-CEMAC) noted some progress in the implementation of measures during an ordinary session, recently held by video. conference.
The President of the monitoring unit, Antoine Ngakegni, estimated that if delays were observed in certain pillars of the program, including that related to the objectives at the end of 2019, many advances can, however, be noted in various others with convincing results.
We can cite, among others, the improvement of the quality of public expenditure in the States, the widening of the tax base, the increase in the level of foreign exchange reserves, the merger of the two financial markets of the region, the implementation of the free movement of people and goods, the application of economic and financial programs supported by the International Monetary Fund in all the countries of the sub-region.
Other actions requiring a longer reaction time remain in the process of being completed, such as amending finance laws. However, continued Antoine Ngakegni, these efforts have been severely tested by the effects of the Covid-19 pandemic, which has not spared the community economically and socially.
To cope with this, the ministers in charge of the Economy and Finance met last March in Brazzaville, with the aim of adopting urgent measures that were to enable the economies and health systems of the sub-region. region to resist this pandemic.
Thus, reforms were made possible thanks to the commitment of the States, the support of community institutions and the decisive support of technical and financial partners. Hence the current sub-regional economic environment, certainly unstable, but still under control.
The PREF-CEMAC is the reference framework and the action plan that the high authorities of the sub-region put in place in 2016, to face the severe economic crisis that hit the countries of the community in the midst of year 2014. The implementation of PREF-CEMAC is based on a certain number of actions defined in its matrix, drawn up in 2017
