Archive

Article length: 1094 words

Resources companies start lobbying as Cemac currency rules bite

The decision to impose stricter rules regulating currency transfers and payments across the Central African Economic and Monetary Union (Cemac) countries – heavily promoted by the International Monetary Fund (IMF) and its key ally in the process, the regional Banque des Etats de l’Afrique Centrale (BEAC) – reflects an urgent need to improve governance and macroeconomic management in much of the region. But a pile-up of payments delays and the sketchy implementation of currency controls have emerged as a major threat to day-to-day business for companies operating in the Central African franc zone.

Go to full article

Credit value: 14

African Energy Gulf States Newsletter