CEMAC’s Economic Situation: Brainstorming On Common Strategy

How well the economies of the sixmember countries of the Central African Economic and Monetary Community (CEMAC) weather growing macroeconomic storms to re-angle itself on the path of growth will depend on the outcome of the Heads of State extra-ordinary Summit billed for Yaounde, Cameroon this Monday December 16, 2024. Focus will be on economic and monetary situation of the sub-region owing to challenges at moment. In a world fractured by inequalities and sometimes helpless in the face of new threats, the CEMAC member States need a common vision, efforts, strategies and actions in order to surmount the challenges of the multifaceted shocks and keep the flame of regional integration burning. The Yaounde summit will therefore serve as a platform for the sub-regional leaders to define a roadmap to boost the economy of the CEMAC zone and strengthen its resilience to external shocks, and to draw up guidelines for strengthening structural reforms with a view to improving the economic performance of the countries in the CEMAC zone. The Yaounde conclave is jointly organised by Cameroon and the Central African Republic, whose Head of State, Prof. Faustin Archange Touadera, is the current President of the rotatory CEMAC Heads of State Conference, since the 15th session of the Summit of the Organisation in March 2023. The choice of Yaounde to host this Monday’s CEMAC Heads of State extra-ordinary Summit tells of how Cameroon’s Head of State Paul Biya is fully committed in using his leadership position in rallying his peers to seeking common solutions to common problems within the sub-region. Planning to pre-empt any future happening is always good. This is obviously in line with President Paul Biya’s commitment during the 15th Ordinary Conference of CEMAC Heads of State which held in Yaounde on March 17, 2023 when he told Prof. Touadera that, “I would like to express our confidence in him and our willingness to work with him for the progress of our Community and in the interest of our brotherly peoples.” The Cameroon’s Head of State added that, “We should stay true to our national and community commitments in order to restore peace and progress in our countries and our sub-region. To this end, solidarity should be the watchword.” It is therefore in the spirit of the much-needed synergy that the Heads of ...