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| CEMAC Heads of State met in Yaounde last Friday |
The President of the Republic of Cameroon,
His Excellency Paul BIYA, has joined forces with regional leaders to stabilise
the economies of the Central African Economic and Monetary Community, CEMAC.
Six
Heads of State of the Central African sub-region met in Yaounde on Friday 23
December 2016 in an extraordinary summit, convened by the Cameroonian Head of
State.
21
resolutions were made at the end of the conclave. The most outstanding resolution
was the outright refusal to devalue the currency, the Franc CFA.
In
his opening remarks, the Head of State appealed for a quick response to a
looming economic crisis in the sub region, caused by a drastic drop in oil
prices, the upsurge of insecurity, and the political instability in the CAR. President
BIYA said an immediate and common solution must be sought to avoid worsening
repercussions on the livelihood of the populations.
BIYA’s
address was followed by the holding of an in-camera session with the following
heads of state participating: Faustin-Archange Touadera of the Central African
Republic (CAR); Idriss Deby Itno of Chad; Teodoro Obiang Nguema Mbasogo of
Equatorial Guinea; Denis Sassou Nguesso of Congo; and Ali Bongo Ondimba of Gabon.
Equally
in attendance were: the economy and finance ministers of the sub-region; the
Managing Director of the IMF, Christine Lagarde; the French Minister for the
Economy and Finance, Michel Sapin; the President of the CEMAC Commission,
Pierre Moussa; and the Governor of BEAC, Lucas Abaga Nchama.
The
ministers presented a report of a meeting held yesterday in Yaounde, while
Christine Lagarde and Michel Sapin outlined pathways to rapidly adjust the
CEMAC economies with international partners
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