The heads of state of the Central African Economic and Monetary Community (CEMAC) held an extraordinary summit on August 18, 2021. The meeting is primarily devoted to “the evolution of the macroeconomic situation in the CEMAC zone in the context of the Covid-19 pandemic and the analysis of recovery measures

The event initially planned in-person in the Cameroonian capital Yaoundé, finally took place by videoconference, “not only for reasons related to the health crisis, but also for calendar reasons” indicate sources familiar with the matter. Three distinguished guests enhanced the meeting with their presence, in this case, the Director General of the International Monetary Fund (IMF), Kristalina Georgieva, the French Minister of Economy and Finance, Bruno Le Maire and the President of the African Development Bank (AfDB) Group Akinwumi Adesina, not to mention the presence of the President of the CEMAC Commission, Daniel Ona Ondo. There was talk of renegotiating new economic programs or extending old programs with the IMF taking into account the current socio-economic situation. Despite the low level of regional trade, which is around 3%, the CEMAC commission makes community integration one of its priorities and insists on the rigorous application of the provisions contained in the new exchange regulations concerning the repatriation of export earnings and transfers, to continue the mobilization of non-oil revenues through the expansion of the tax base, of freeze non-priority public investments while maintaining social spending, and conduct a review to propose, as soon as possible, the purchase of domestic public bonds or debts of