CEMAC: Closing of the first meeting of the steering committee of the economic and financial reform programme in Brazzaville.

17 Jan, 2017

Discussions of the inaugural session of the Steering Committee (COPIL) of the economic and financial reform Programme (PREF) of the Central African Economic and Monetary Community of Central Africa (CEMAC) ended on 17 January 2017 in Brazzaville with a final communiqué followed by a press conference.

Participants adopted two decisions, the matrix of actions and the budget of the Reform Program. The decisions concern, firstly, internal regulations of PREF implementation organs and, secondly, modalities for implementation of the said programme. The matrix of actions draws support from five pillars namely: budget policies; monetary policy and the financial system; structural reforms; regional integration and international cooperation.


It should be noted that this Matrix should serve as a reference framework for the development of programs in each of the six member states of the CEMAC zone. These programs will be negotiated by each country with the Bretton Woods institutions. The objectives and measures specific to each pillar of the Matrix have been listed according to their priority and terms of application. The implementation of these measures will be modulated taking into account the realities of each State.

Regarding PREF’s 2017 budget, the amount of which has not been disclosed to the press, it will be mainly funded by the Special Integration Fund (FSI) – 2015 financial year.

  As a reminder, the first COPIL session of CEMAC PREF was under the theme "Implementing rapid, vigorous and coordinated actions for revamping economies of the Community". The Brazzaville meeting, which was attended by the ministers of Economy, Finance, Planning, Statistics, Budget and Public Portfolio of CEMAC member countries, was led by the Congolese Minister of Economy, Gilbert Ondongo, chairman of PREF’s Steering Committee.

Adrien WAYI Lewy and Jean Helene Bazin Bongou

Sub Category:FINANCES