Christian Yoka, Congolese Minister of Finance, Budget and Public Portfolio, chaired the 22nd Ordinary Session of the Steering Committee (COPIL) of the Economic and Financial Reform Program of the Central African Economic and Monetary Community (PREF-CEMAC) on Tuesday, September 30, 2025, in Brazzaville (Republic of Congo). The session was held both in person and via videoconference. The results reflect renewed confidence in the 2024 assessment, which reveals an overall achievement rate of 66.5%, up from 62.2% recorded in 2023.

Opening the session, Christian Yoka stated, regarding the macroeconomic situation, that "the 2024 annual assessment of the PREF-CEMAC confirms the continued consolidation of the Community's macroeconomic framework and underscores the resilience of our economies in the face of external shocks, following the 2020 recession. According to the BEAC, the growth rate of real Gross Domestic Product (GDP) has followed a positive trajectory: it stood at 1.9% in 2021; 3.2% in 2022; and 1.9% in 2023." and to 2.9% in 2024, with a forecast of 2.4% in 2025. Inflation is gradually declining: the inflation rate fell from 5.6% in 2023 to 4.1% in 2024, with a forecast of 2.8% in 2025, below the community standard of 3%. Foreign exchange reserves remain broadly stable: they represented 4.7 months of imports at the end of 2024, compared to 4.6 months in 2023, and are projected to reach 4.5 months in 2025. For reference, the level was 3.7 months in 2019.

Regarding the implementation of the CEMAC PREF reforms, the Congolese Monetary Authority reported an overall completion rate of 66.5% for 2024, up from 62.2% in 2023. This progress, it explained, is the result of the joint efforts of member states, community institutions, and partners. The Chairman of the Steering Committee also welcomed the significant progress made in negotiations with the International Monetary Fund (IMF) regarding the reviews of member states' programs; the mobilization of resources for priority projects; and the strengthening of CEMAC's external position.

With regard to priority integration projects, Minister Christian Yoka reported that significant progress has been made thanks to the technical and financial support of partners. First, regarding the first Integrated Projects Program (2020), 80% of the 11 projects had reached a 75% implementation rate by March 31, 2025. Second, regarding the second Program (2023), the 13 projects whose funding was secured at the Paris Roundtable in November 2023 are now in the active launch phase. “These results reflect the renewed confidence of the international community and commit us to greater efficiency in implementation, to improve infrastructure, essential public services (health, education, energy, water, transport, telecommunications), reduce poverty, and protect the environment,” he emphasized.

The Monetary Authority of Congo recalled that the recent Conference of Heads of State held in Bangui, Central African Republic, called on member states to accelerate the implementation of structural reforms to fully capitalize on the sub-region's growth potential and deepen the physical and trade integration of the CEMAC (Economic and Monetary Community of Central Africa). It recommended implementing the priority economic reforms planned for the third phase (2025-2029), which is structured around the following five pillars:

First pillar (Fiscal Policy): strengthen fiscal policy to increase non-oil revenues; effectively target public spending; harmonize budgetary rules; improve debt management and implement multilateral surveillance mechanisms.

Second pillar (Monetary Policy and Financial System): standardize the application of exchange control regulations; finalize negotiations on the repatriation of RES (Revenue Support) funds; reduce banks' exposure to sovereign debt; boost credit to the productive sector; and operationalize and revitalize the financial market. Strengthen the role of the Development Bank of Central African States (BDEAC) in financing the economies.

Third pillar (structural reforms): promote economic diversification; adapt training systems to market needs; integrate entrepreneurship and employability into education systems; improve the business environment; and develop alternative sources of financing.

Fourth pillar (regional integration): accelerate the establishment of the Common Market; bridge the digital divide; improve sustainable access to energy.

Fifth pillar (international cooperation): complete the reform of the monetary cooperation framework with France.

The 22nd ordinary session of the CEMAC Regional Economic and Social Development Policy Committee (COPIL) was attended by the President of CEMAC, the Governor of the Bank of Central African States (BEAC), the President of the Development Bank of Central African States (BDEAC), the heads of community bodies and institutions, and representatives of technical and financial partners.

Communication Unit of the Ministry of Finance, Budget and Public Portfolio