Cameroon's President Biya elected new CEMAC president

Yaoundé, Cameroon (PANA) –  Cameroonian President Paul Biya has been elected President of the Central African Economic and Monetary Community (CEMAC) for two years at the end of the 14th summit of the organisation on Sunday in the Chadian capital, N’Djamena, according to the final resolution of the meeting.

The conference of Heads of State, which Mr. Biya did not attend, was preceded by the 33rd ordinary session of the Council of Ministers of the Central African Economic Union (UEAC) on 22 March, and the consultation meeting of the ministerial committee of the Central African Monetary Union (UMAC) on 23 March.

The Conference paid tribute to the President of Central African Republic, Faustin Archange Touadera for signing, on 6 February, the Khartoum Agreement, which indicated the end of a long period of suffering inflicted on the people of Central African Republic.

Congolese President Denis Sassou Nguesso, in charge of CEMAC's economic and financial reform programme (PREF-CEMAC) and   Cameroonian Prime Minister Joseph Dion Ngute, on behalf of President Biya, responsible for the streamlining process of the regional economic communities, have made respective reports on the progress of these programmes to the meeting.

In this regard, the Conference encouraged all States and all CEMAC economic, monetary and financial institutions involved in the implementation of the programme to continue their efforts to strengthen the viability of public finances, and the currency coverage through the accelerated implementation of measures taken to repatriate export earnings.

In addition, the heads of State called for solidarity between States and to accelerate the outcome of the negotiations for the Congo and Equatorial Guinea programmes and reaffirmed their commitment to support these two countries in finalising discussions with the International Monetary Fund (IMF).

The Conference congratulated President Biya, responsible for the streamlining of the regional economic communities (CER), for the significant advances recorded in this  process.

In order to accelerate the process and capitalize on the results  recorded, an extraordinary joint ECCAS/CEMAC Summit is planned to be held in the near future .

The 15th ordinary session of the CEMAC heads of State Conference will be held in Yaoundé, the final statement said.

-0- PANA EB/JSG/BBA/AR 25Mar2019