Faced with the lack of interest from States, the Bank of Central African States (Beac) is ending its government securities buyback operation. According to a Beac publication, the program, which is already at its end, will not be renewed.

"The program of repurchases of public securities on the secondary market comes to an end in August 2021 and will not be renewed. This is the excerpt from an article on "Evaluation of the measures adopted by the Central Bank in response to the Covid-19 pandemic".This is the extract from an article on "the evaluation of the measures adopted by the Central Bank in response to the Covid-19 pandemic", published in the latest edition of "La lettre de la recherche", a publication of the Bank of Central African States (Beac). Through this revelation, written by Ivan Bacale Ebe Molina, Beac's Director General of Studies, Finance and International Relations, the central bank seems to recognize the mixed nature of the expected results of this operation.This operation was intended to provide up to 600 billion CFA francs to the CEMAC countries (Cameroon, Congo, Gabon, Chad, CAR and Equatorial Guinea) to help them respond to the coronavirus pandemic.

Indeed, according to the central bank's own statistics, as of May 31, 2021, the four Cemac countries that have joined the securities buyback program (Cameroon, Gabon, Congo and Chad), whose first operations took place in November 2020, will be able to buy back their securities.The first operations took place in November 2020 and benefited from financial assistance totaling CFAF 215.6 billion, or 5.7% of the total outstanding public securities issued on the Beac market at the end of May 2021. Clearly, after a sluggishness observed around this securities repurchase program between September and October 2020, and then an extension of the operation for six months as of March 2021, the funds raised by the CEMAC countries will be used to finance the program.The funds raised by CEMAC countries at the end of May 2021, thanks to this financing mechanism, represent only a little more than a third of the envelope made available to them. In addition, countries such as CAR and Equatorial Guinea, whose financing needs are nonetheless notorious, have not seen fit to join this Beac initiative.