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...
Among the African countries most affected by the Coronavirus pandemic, Cameroon has just received significant financial support. The country of Paul Biya was granted a loan of 226 million dollars, estimated at 132 billion CFA francs, from the International Monetary Fund (IMF). The decision was taken during the board of directors of this international institution...
The spread of Covid-19 in the Central African Economic and Monetary Community CEMAC still poses a new risk of devaluation of the common currency, the CFA Franc. At least that’s what emerges from recent meetings of the Bank of Central African States BEAC. With the rapid progression of the coronavirus having led to the decline...
Though expecting 50 billion FCFA, the State of Cameroon is satisfied with 34 billion FCFA, obtained on the money market on April 29, 2020. It was during its third operation of issuance of Assimilable Treasury Bonds (OTA) that it engaged for some months, to obtain 220 billion FCFA in order to be able to finance...
