On the sidelines of the meeting of the Ministers of finance of Zone franc area opening tomorrow April 14, 2017 in the Ivorian capital city, Honourable Calixte NGANONGO, Congolese Minister of finance, budget and public portfolio and current Chairman of the Monetary Union of Central Africa(UMAC) chaired the meeting of the Ministerial Committee of UMAC on Thursday, April 13, 2017 in Abidjan. The purpose of the meeting was to prepare the general meeting of the IMF and the World Bank scheduled to take place next week in Washington .

In the presence of his counterparts, honourable Calixte NGANONGO recalled the firm commitment made by the Heads of States of CEMAC on December 23, 2016 in Yaounde, as a way for the six countries of the sub-region of facing the economic and monetary crisis they are experiencing.

The Ministers of finance attending the meeting unanimously reiterated the strong will of Heads of States of CEMAC to urgently implement the measures of economic and financial recovery agreed on within the framework the economic and financial reform program of CEMAC(PREF-CEMAC). The reforms will be backed by international institutions. Yet, the IMF and World Bank back up has to take into account the social constraints of individual states of CEMAC .

Due to the lack of credibility of some sovereign signatures on the financial market of CEMAC, the participants to the meeting demanded the set up of macro-financial framework with the involvement of those international financial institutions, in order to keep the bank system stability of CEMAC and to strengthen the development of emerging markets.

 From our Special Envoys Alain Andely and Adrien WAYI