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Central Africa: new objectives in the CEMAC

By on June 9, 2010
The host of the summit, Denis Sassou N’Guesso, asked to his peers to go farther into their will to clean up the general climate within the Bank of States of Central Africa (BEAC).

He declared that “the currency is the base of the economy. Nothing of it should be managed unpredictably, or let to laxness”. However, an internal investigation of the BEAC revealed that 25 million euro was diverted.
The investigation report regretted especially the silence of several senior officials of the Central Bank, but in reality it was just a waste of time because nobody is really worried or risks being imprisoned. Nevertheless, the heads of states had undertaken to put some order in the Economic and Monetary Community of Central Africa (CEMAC), splashed by the biggest financial scandal of its history. They preferred to work on less irritating problems like the sub-regional integration which has difficulties to find its marks, and also the project of a common passport for free circulation within the region. It is about a CEMAC “biometric” passport which will allow its holders to circulate without visa in the community space. Other topic debated, that of the airline company “Air CEMAC” which knows some technical difficulties to enter in activity. This project should also know an outcome before the end of year 2010.

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