https://en.sputniknews.africa/20241217/cemac-regional-bloc-has-withstood-internal-and-external-shocks-over-past-decade-car-president-says-1069751764.html
CEMAC Regional Bloc Has Withstood Internal and External Shocks Over Past Decade, CAR President Says
CEMAC Regional Bloc Has Withstood Internal and External Shocks Over Past Decade, CAR President Says
Sputnik Africa
Leaders of the Central African Economic and Monetary Community (CEMAC), which consists of six countries: Cameroon, CAR, Republic of Congo, Gabon, Equatorial... 17.12.2024, Sputnik Africa
2024-12-17T10:10+0100
2024-12-17T10:10+0100
2024-12-17T13:43+0100
sub-saharan africa
faustin archange touadera
cameroon
republic of the congo (congo)
gabon
international monetary fund (imf)
african development bank (afdb)
economy
economic growth
chad
https://cdn1.img.sputniknews.africa/img/07e8/0c/11/1069751894_0:0:3072:1728_1920x0_80_0_0_c061bb803a954d171fb00900ad639e10.jpg
Central African Republic (CAR) President Faustin Archange Touadera, who currently chairs the Central African Economic and Monetary Community, emphasized CEMAC's resilience, crediting its ability to withstand significant economic shocks over the past decade.Touadera cited a positive economic growth rate of 2.7% in the bloc in 2024 (compared to -1.1% in 2016), attributed to the implementation of over 60% of agreed reforms.The CAR leader stressed the importance of maintaining economic and budgetary balances, supporting the central bank's monetary policy to strengthen the external position and reduce inflation towards regional convergence criteria.Meanwhile, Cameroonian President Paul Biya highlighted a significant decline in net external assets, urging member states to take "urgent action" to prevent disastrous consequences.In addition to Cameroon and CAR leaders, representatives of the IMF and AfDB, as well as the presidents of Gabon and Equatorial Guinea, attended the summit, while Chad and the Republic of Congo sent their finance ministers and prime ministers, respectively.
https://en.sputniknews.africa/20230517/win-win-for-all-cars-a-nation-with-great-potential-for-brics-foreign-minister-says-1059309218.html
cameroon
republic of the congo (congo)
gabon
chad
equatorial guinea
central african republic
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2024
Muhammad Nooh Osman
https://cdn1.img.sputniknews.africa/img/07e7/04/0a/1058467512_0:0:1280:1280_100x100_80_0_0_ec723833bcbfcaed2e21952965ad99e4.jpg
Muhammad Nooh Osman
https://cdn1.img.sputniknews.africa/img/07e7/04/0a/1058467512_0:0:1280:1280_100x100_80_0_0_ec723833bcbfcaed2e21952965ad99e4.jpg
News
en_EN
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Muhammad Nooh Osman
https://cdn1.img.sputniknews.africa/img/07e7/04/0a/1058467512_0:0:1280:1280_100x100_80_0_0_ec723833bcbfcaed2e21952965ad99e4.jpg
faustin archange touadera, cameroon, republic of the congo (congo), gabon, international monetary fund (imf), african development bank (afdb), economy, economic growth, chad, summit, equatorial guinea, central african republic
faustin archange touadera, cameroon, republic of the congo (congo), gabon, international monetary fund (imf), african development bank (afdb), economy, economic growth, chad, summit, equatorial guinea, central african republic
CEMAC Regional Bloc Has Withstood Internal and External Shocks Over Past Decade, CAR President Says
10:10 17.12.2024 (Updated: 13:43 17.12.2024) Muhammad Nooh Osman
Writer/Editor
Leaders of the Central African Economic and Monetary Community (CEMAC), which consists of six countries: Cameroon, CAR, Republic of Congo, Gabon, Equatorial Guinea and Chad, convened an extraordinary summit in Cameroon's capital, Yaounde, on Monday to address the region's concerning economic climate.
Central African Republic (CAR) President Faustin Archange Touadera, who currently chairs the Central African Economic and Monetary Community, emphasized
CEMAC's resilience, crediting its ability to withstand significant economic shocks over the past decade.
"[CEMAC] has been resilient to the large fluctuations in raw material prices, unprecedented security and health crises, the devastating effects of climate change and funding shortages," President Touadera emphasized.
Touadera cited a
positive economic growth rate of 2.7% in the bloc in 2024 (compared to -1.1% in 2016), attributed to the implementation of over 60% of agreed reforms.
The CAR leader stressed the importance of maintaining economic and budgetary balances, supporting the central bank's monetary policy to strengthen the external position and reduce inflation towards regional convergence criteria.
Meanwhile,
Cameroonian President Paul Biya highlighted a significant decline in net external assets, urging member states to take "urgent action" to prevent disastrous consequences.
"If nothing is done... we could face disastrous consequences both for our countries and for our sub-region," Biya said, calling on member states to take "concrete steps."
In addition to Cameroon and CAR leaders, representatives of the IMF and AfDB, as well as the presidents of Gabon and Equatorial Guinea, attended the summit, while Chad and the Republic of Congo sent their finance ministers and prime ministers, respectively.
