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Cameroon owns 41% of CEMAC’s money stock

Business in Cameroon | The Bank of Central African States (BEAC) informs that in 2017, the money stock within CEMAC was CFA10,602.9 billion. Compared to the CFA10,645.4 billion in 2016, this represents a decrease of 0.4%.

The bank further informs that Cameroon owns 41% (CFA4,398.8 billion) of this stock. In 2016, this same stock was CFA4,163.05 billion and the new figure represents an expansion by 5.7%.

As far as Central Africa is concerned, its money stock grew by 12.3% within the said period (CFA307.4 billion in 2017 against CFA273.68 billion a year earlier). According to BEAC, this improvement was spurred by the positive impact of its foreign asset (+18.3%) following the regular payment of salaries in the public sector and thanks to the implementation of labor-intensive projects funded by foreign investors.

During the year under review, Congo’s stock decreased by 10.4% due essentially to its foreign assets. Indeed, in December 2017, the country’s stock was CFA1,766.14 billion while by the same period a year earlier, it was CFA1,971.83 billion. Gabon’s followed the same trend with a drop by 3.8% (CFA2,004.78 billion in 2017 against CFA2,084.523 billion in 2016) due to the negative contribution of the domestic debt (-3.2%) that even the external assets’ positive contribution (+4.3%) was unable to offset.

As for Equatorial Guinea, its 1% increase was due to the positive contribution of the domestic credit (+11%) despite the negative impact of the net foreign assets (-7.5%). Its money stock was CFA1, 193.396 billion while in 2016, it was CFA1, 181.61 billion.

The last country, Chad, registered a drop by 3% and the stock was CFA895.8 billion against CFA923.82 billion in 2016 due notably to the domestic credit (-3.3%).

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5 comments

  1. SHAME, SHAME, SHAME

    1. Their currency controlled by France
    2. Their reserves deposited in the French Treasury

    In sum, they are all still colonies of France

  2. Funny thing is that the have limited access to this money once it ends up in the French treasury, money that is held in the French treasury to enrich the French, while the taxpayers of these nationals are languishing in poverty. How can this be so difficult for our leaders to see?

  3. Has the finance minister lost his voice or he dosnt comment ,considering he rightly did his job at notifying the public of discepencies about under declared weightings of exported goods it would be nice to hear his point of view about this situation aswell.

  4. There is a mysterious “Accord de Cooperation” that ties Cameroon eternally to France. Not even our best professional historians can venture to discuss it since it involves the exploitation and use of human and material resources to keep France going – little or no power outages, thanks to power plants fueled by uranium from Mali, Ngaoundere, etc. Mean while power outage is a daily reality in Cameroon. French Nationals work and retire on time to rest and do other things; in Cameroon retirement is dreaded.
    Njombe, Pamol, CDC, SONARA, logging, and so much more could make 22 million people self sufficient and happy.