Ordinary Session for National Credit Council

The National Credit Council of the Republic of Equatorial Guinea met on 18th July in an ordinary session in which an act that corresponds to the meeting on 13th March was approved. The council has carried out a tracking of the matrix of recommendations from the previously mentioned session.

The work was carried out in the meeting room of the Bank of Central African States in Malabo II, under the presidency of the Minister of Finance, Economy and Planning, Lucas Abaga Nchama, and assistance by the BEAC Governor, Mahamat Abbas Toll, and BEAC National Director, Genoveva Andeme Obiang.

During the work, the council took note of the report on the evolution of the activities by the Professional Association of Credit Institutions in Equatorial Guinea (APEC-GE), presented by the president of such association.

The council also followed the presentation by the Minister of Commerce and Promotion of SMEs on the objectives that the ministry sets for the promotion and improvement of SMEs, which requires the collaboration with the National Credit Council.

Lastly, in the section of various subjects, the council adopted the report on activity elaborated by the secretary that corresponds to 2017, and in the same way, the council was informed of the national economical situation of the first quarter for 2018. The rate of inflation reached 0.6% in the first quarter of 2018, in contrast to the 1.1% reached in the same period during 2017, and economic credits have increased by 2.94% at the end of April 2018. Economic growth would improve in 2018 in regards to initial predictions, positioning itself at 4.2% as opposed to the initial prediction of 7.2%.

Source: Official Web Page of the Government of the Republic of Equatorial Guinea

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