CEMAC lauds Cameroon’s increased oil production, energy amelioration despite crisis

BUSINESS 07 Aug 2019
CEMAC lauds Cameroon’s increased oil production, energy amelioration despite crisis

By DOH JAMES SONKEY
A Multilateral Surveillance Mission of the Central African Economic and Monetary Community, CEMAC has noted with satisfaction that despite numerous security threats faced by Cameroon in the Far North, North West and South West regions, the economy evolved in 2018 with increased production of petroleum products and amelioration of power supply.
The Mission led by the Director of Multilateral Surveillance, Nguemeni Jean-Claude was received in audience last August 2, 2019 in Yaounde by the Minister Delegate to the Minister of Economy in charge of Planning, Paul Tasong in a move to foster economic integration.

 CEMAC Multilateral Surveillance Mission officials pose with Minister Delegate, Paul Tasong

CEMAC Multilateral Surveillance Mission officials pose with Minister Delegate, Paul Tasong

The Minister Delegate and his guests in the over 2-hours audience, evaluated the macroeconomic situation of Cameroon in 2018 and perspectives for 2019 and 2020, the state of conformity of Cameroon to the new CEMAC convergence criteria. They equally examined measures taken at the national level for the conclusion of the remaining reviews of the economic and financial programme concluded with the IMF and evaluated the level of implementation of engaged structural reforms within the framework of the Growth and Employment Strategic Paper, diversification of the economy, business climate, state of realization of projects linked to the African Nations Cup etc.
Speaking at the occasion, the CEMAC Mission Head proposed that in its development policies, Cameroon should take into consideration the aspect of continental free trade.
Cameroon, it should be recalled, emerged as Chair at the last CEMAC Heads of State Summit in March 2019 which took place at Ndjamena in Chad.
Briefing reporters after the audience, Nguemeni Jean-Claude explained that “we met many key actors during our stay in Cameroon like officials of the Ministry of Economy, Planning and Regional Development, administrations under the Ministry of Finance, Ministry of Trade and other structures under it like the Hydrocarbons Prices Stabilization Fund, CSPH, main enterprises in the troubled North West and South West regions such as the CDC, PAMOL, UNVDA. We also held talks with some owners of private enterprises in Cameroon.”

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