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Commercial banks in the CEMAC zone in search for liquidity despite 90 Billion FCFA offer from BEAC

The financing need of these banks is increasingly expressed, to the point where the liquidity offer of 90 billion FCFA issued by the Beac on June 25, 2024; could not satisfy the appetite of the said banks.

According to the results published on June 27, 2024 by the banking institution common to the six CEMAC countries, the offer of 90 billion FCFA proposed proved insufficient. Indeed, the six credit institutions expressed an overall refinancing need estimated at 316 billion FCFA during the operation of June 25, 2024. Since the start of 2024, the liquidity injection of June 25, 2024 is the 3rd operation carried out by the Beac, it was subscribed to more than 350% by commercial banks.

While the second session of the Beac Monetary Policy Committee held on June 24 in Yaoundé expects an inflation rate of 3.9% in the sub-region at the end of 2024. It should be noted that the injection operations funds initiated since June 2024 take place in a context marked by an upward increase in key rates. Since 2021, the central bank of the CEMAC countries has decided to suspend its liquidity offers to the sub-regional banking sector, and has implemented a policy of monetary austerity, which consists of permanently draining the coffers. strong banks.

Although growth forecasts remain above the community standard of 3%, the Beac remains determined to combat galloping inflation in the CEMAC zone. Moreover, the Beac maintains that by drying up bank liquidity, in order to restrict access to credit to States and other economic agents, this has a positive impact on the 20% of inflation that is said to be of monetary origin.