According to the Minister of Finance of Cameroon, the CEMAC states are working to mitigate the effects of the coronavirus on monetary parity. “The risk that hung over our heads about the devaluation has been somewhat removed,” Cameroon’s Minister of Finance said in an interview with the national daily Cameroon Tribune this week. Louis Paul...
Cameroon’s Director General of Taxes says that measures taken by Government to contain Covid 19 come at a huge cost. Modeste Mopa Fatoing who spoke to the national daily Cameroon Tribune further revealed that, these different measures will undoubtedly do a lot of good for Cameroonian companies impacted since the start of the crisis. “You...
Coupled with other factors like falling commodity prices, the coronavirus will have a huge impact on the national economy. According to the government, national economic activity is expected to decline by 0.2% in 2020, after an increase of 3.9% in 2019. The 2020 financial year promises to be sluggish for the Gabonese economy, according to...
The Cameroonian group, KPMO, (made up of 9 companies from the port market including APM, TRANSIMEX AND SAPEM) responsible for the management of the multipurpose terminal of the Autonomous Port of Kribi (PAK) since July 2018, will have to leave the ship in a little more ” one month, i.e. June 30, 2020. “The limited...
The Director General of Economy and Fiscal Policy has warned that the Covid-19 pandemic will cause a loss of 700 billion CFA francs in state budget revenue in 2020. This loss is due to a decline in oil production to -4.5% and a slowdown in non-oil sector activities to + 0.6% compared to 3.8% initially...
The United Nations has allocated $ 12 million from its Humanitarian Fund to support the multi-sectoral emergency response in the Central African Republic (CAR). This emergency financial allocation will also help reduce the spread of the Covid-19 pandemic. “The allocation of the Humanitarian Fund will enable humanitarian actors on the front line to cover the...
On May 4, 2020, the Board of Directors of the International Monetary Fund (IMF) granted a new loan of CFAF 135 billion to Cameroon. Money that will be entirely devoted to the fight against COVID-19, said the Minister of Finance, in an interview with state radio, CRTV, on May 6, 2020. “We have a crisis...
The issue of temporary suspension of debt service for the poorest countries, including the Central African Republic through the G20, was at the heart of discussions this Wednesday, May 6, between the Minister of Finance and Budget Henri-Marie Dondra and the resident representative from the International Monetary Fund (IMF) Victor Davies, as well as the...
The European Union and the states contributing to the Bêkou Fund – Germany, France, Italy, the Netherlands and Switzerland – adopted in April three new programs for resilience and recovery in the Central African Republic in 30 million euros (19.7 billion FCFA). These additional funds will make it possible to launch new phases of the...
