Bilateral IMF, CEMAC and BEAC meeting

At the meeting of chiefs from the three institutions, held recently in Yaunde, Cameroon, the World Bank committed to financing integrating projects.

The Director of the World Bank for Central Africa, Elisabeth Huybens, organised a working session with the President of the CEMAC (Economic and Monetary Community of Central Africa) Commission, Daniel Ona Ondo, and the BEAC (Bank of Central African States) General Director for Studies, Finance and International Relations, Ivan Bacale Ebe Molina.

The Head of the World Bank reviewed the various projects that the institution has identified for implementation in the subregion, including the sectors of trade, electricity, infrastructures and transport.

For his part, the BEAC Director General recalled that the reforms initiated by the Central Bank, and backed by the World Bank, had stabilised the economic and monetary situation in the area, and that the increase in the price of oil should have a more significant effect on the economies for 2019, tending towards a better economy and finance for the area.

The President of the CEMAC Commission made it clear that “integration is the solution to CEMAC economic difficulties. Our members must understand this and help us to move in this direction”.

Source: Equatorial Guinea Press and Information Office

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