The Executive Board of the International Monetary Fund (IMF) approved, on April 20, an emergency disbursement in the amount of 27.85 million special drawing rights, the equivalent of approximately $ 38 million ( or 25% of the quota) in favor of the Central African Republic. These funds will help the country meet its urgent balance...
Régis Immogault has outlined some possible solutions to help the Gabonese state master the economic shock caused by the Covid-19. Noting that the crisis will cause budget losses of around 600 billion CFA francs, destroy jobs and weaken households, the former minister suggests devoting the state budget to essential needs, accelerating the diversification of the...
The IMF (International Monetary Fund) Board of Directors approved the disbursement of $ 115.1 million to the Chadian government to combat the Covid-19 pandemic. The context is particularly unstable. With the spike in covid-19 and the fall in international oil prices, Chad is back has been pushed economically to the wall. In order to avoid...
State agents will be paid this April before the end of this month. This is in compliance with the measures adopted as part of the fight against the spread of Covid-19 obliges, from April 21 they will go to the cashier. Defense and security forces will open the floor. A few days before April 25,...
Faced with the spread of Covid-19 which is blocking economic activities and threatening the bankruptcy of companies, Gabon’s Directorate General of Taxes (DGI) has published, the calendar relating to the tax deferral. An initiative announced early April by President Ali Bongo Ondimba to help companies overcome the crisis triggered by the pandemic. In order to...
Alain Nkontchou, CEO Enko Capital Harvest Asset Management and Enko Capital led respectively by Cameroonians Marc Kamgaing and the Nkontchou brothers have been retained by the Bank of Central African States BEAC to manage part of the funds of the Staff Retirement Plan (CRBC). Harvest will deal with investments in the CEMAC zone, while Enko...
The IMF Executive Board has approved immediate debt service relief to 19 African states (IMF’s member countries) under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT) as part of the Fund’s response to help address the impact of the COVID-19 pandemic. Though all CEMAC countries are facing economic shocks emanating from the virus, only...
To carry out an economic transaction in Cameroon, you must now have a unique identifier number (NIU), also called the taxpayer number. These are the requirements of the 2020 finance law, confirmed by the press release from the Director General of Taxes, Modeste Mopa Fatoing. The taxpayer number is a number assigned to a natural...
Cameroon has raised 71 billion FCFA at the end of a 5-year fungible Treasury bonds issuance (T-bonds) operation on April 8, 2020. Investors we are told offered up to 75 billion FCFA but, considering the conditions in the money market, the country decided to keep 71 billion FCFA at an interest rate of 5.7%. The...
