Congo-Brazzaville: insufficient economic reforms in CEMAC countries
The Economic and Monetary Community of Central Africa (CEMAC) points to the weaknesses in the implementation of economic diversification reforms, as here in Brazzaville.
SAMIR TOUNSI / AFP
Text by: RFI Follow
2 min
Initiated in 2016 with the aim of resolving the economic crisis caused by the fall in the prices of raw materials, oil in particular, the Economic and Financial Reform Program of the six member countries of the Central African Economic and Monetary Community (PREF-CEMAC ) has weaknesses in its application, according to a report published on September 4 in Brazzaville.
And sub-regional integration is lagging behind.
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With our correspondent in Brazzaville,
Loïcia Martial
It is the permanent secretary of PREF-CEMAC, Michel-Cyr Djiena Wembou, who presented this report to the press, which provides a critical assessment of this reform program.
"
States have still not vigorously implemented the reforms that contribute to improving the business climate, diversifying the economy and strengthening human capital, which is the important factor in improving productivity
”, declared Michel-Cyr Djiena Wembou.
According to the same report, economic integration also suffers from enormous weaknesses.
In an attempt to correct this situation, the
CEMAC countries
plan to organize a round table in Brussels next November to raise funds with a view to financing twelve integrative projects.
Round table to finance integrative projects
“
This round table aims to mobilize nearly 2,563.4 billion CFA francs for the financing of integrative projects.
It is with hope that we are waiting at this table because the countries [partners, editor's note] are already committing to funding and are already negotiating bilaterally with our States
”, informed the permanent secretary of PREF-CEMAC.
Regarding the agreements concluded with the International Monetary Fund (IMF), the report notes that some countries have, however, achieved "
stabilization of the
macroeconomic
framework
and better debt management
".
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