National Credit Council meets for ordinary session

The work took place at the headquarters of the bank of Central African States (BEAC) in Malabo II, under the presidency of the Minister for Finance, the Economy and Planning, Lucas Abaga Nchama, in the presence of the BEAC Vice-Governor, Dieudonne Evou Mekou.

The agenda was read by the BEAC national Director, Genoveva Andeme Obiang. After approving the minutes from the meeting of 10th December 2018, the National Credit Council (CNC) presented the state of progress regarding recommendations from the last session.

Under this point, the composition of members of the technical commission created to reflect and present proposals on support measures for small and medium-sized companies in Equatorial Guinea was highlighted. Furthermore, the CNC was informed regarding Resolution Number 9 from the UMAC Ministerial Committee, of 21st December 2018, unifying the activities of the National Monetary Financial Committee and the National Credit Council.

Equally, the National Credit Council was told of the evolution in activities by the professional Association of Credit Institutions in Equatorial Guinea (APEC-GE), presented by the representative of the association, Agapito Nguema Ona Mba, Deputy Director General of the SGBGE.

Furthermore, the National Credit Council presented a note on the execution of its budget during the 2018 period, the rate of usage of which was below that of the initial forecast.

Finally, the CNC took note of the evolution of the national economy to 31st December 2018. The rate of inflation is below the community average and credit to the economy increased by 3.15% between November 2017 and November 2018.

Source: Equatorial Guinea Press and Information Office

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