Faced with capital flight, the central bank and the extractive industries find a compromise. The central bank thus hopes to get its hands on the operators who are at the origin of the current account deficit observed during the 2020 financial year and the extractive sector hopes for an easing.

BEAC Governor Abbas Mahamat Tolli met on October 14 in Washington with representatives of extractive companies in the CEMAC zone (Economic and Monetary Community of Central Africa). The round table allowed industrialists to discuss their concerns regarding foreign exchange regulations. Indeed, companies and individuals must now also receive authorization from the central bank before opening an account outside the region. This restriction is not welcomed by economic operators, who denounce the arbitrary power of the central bank. "Fully recognizing the capital importance of the CEMAC exchange regulations, the representatives of the extractive industry have indicated their readiness to collaborate with the central bank in the development of an operational framework that is compatible with the objectives of stability. foreign affairs and economic growth of the sub-region, and to the best practices of transparency of financial flows", specifies the press release of the meeting. It should be noted that the media speak of a considerable deficit which, over the past few months, has led to a reduction in the rate of coverage of the currency by five to ten points.