Monetary reserves of Cemac fall from 6000 to 2000 billion Fcfa in six years


In 2010, ensures Kadima Kalondji,the FMI’s resident representative in Cameroon,in visit in Libreville as part of a seminar for media men in the subregion, monetary reserves of Community space were established to 6000 billion Fcfa.

They have plummeted since then and are at 2000 billion FCFA,an erosion of 4000 billion FCFA in six years. This is the result of the collapse in revenues and the fall in oil exports, as well as the explosion of public investment spending in a difficult and unfavorable financial environment.

Community debt has increased from 15% of GDP in 2010 to 45% in 2016. This deterioration will continue according to the diplomat in 2019 if the states do not adopt a recovery plan for their economies in order to To adjust public spending. Because, Kadima Kalondji points out, oil revenues set at 20% of PIB in 2006 will decline gradually to 5% of PIB in 2019.

As solution, the institution of Bretton Woods recommends the rationalization of the public investment expenditure, by avoiding a crowding-out effect on priority social spending.

It is also necessary to reduce the use of non-concessional loans in favor of concessional loans, more advantageous and at practically zero rates.