CEMAC: Growth contracts, inflation rises amid global uncertainty.

The Governor of BEAC, Yvon Sana Bangui, chaired the session.

Facing the media at the end of discussions, Sana Bangui said statistics from the institution show a progression in the prices across CEMAC with inflation rate of 2.2%. 

This, he said, is against 2.0 percent in 2025. Added to these, he mentioned budget deficit and current account deficit.

The dynamics within the sub region, he stated, remain favourable despite geopolitical uncertainties that are affecting maritime transportation and fright cost. 

Sana Bangui also said the cost of primary raw materials has also gone up given the current economic realities. This, he noted, has affected the performance of the nonoil sector.

He noted that money stock within CEMAC will increase by 10.6% and foreign exchange research for goods and services will cover 4.53 months.

This, the Governor noted, is better compared to 4.07 months in 2025. The external coverage of money, he noted, will stabilize at 72.4% by the end of 2026 compared to 65.2 % in 2025.

At the global level, the MPC, the Governor said in a release issued after the meeting, referenced the July 2026 economic outlook of the International Monetary Fund, IMF. 

The report had put global economic growth at 3.0% in 2026 as against 3.5% in 2025. The release said the IMF had blamed the situation on geopolitical tension.

Need to review strategies 

Responding to questions on the uncertain growth within the sub region, the Governor said CEMAC countries are still heavily import-dependent. 

The situation, he said, requires a change in strategy in terms of driving industrialization, and making import-substitution works.

On budgetary deficits, he said BEAC officials discussed the guarantees of CEMAC countries during a recent visit to Washington. 

He noted that IMF officials are waiting for each country to take stock of its deficits before the preparation of budgets for 2027.

With the unpredictable geopolitical situation of the world, he said the dependence of CEMAC countries exposes them to external shocks.

He stated that growth can best be driven through mobilising resources and using such to finance sectors with potential to create jobs. The Governor also reiterated the need for the diversification of economies. 

Key interest maintained

The MPC as at the end of Monday’s meeting maintained key interest rates. The Governor said despite the prevailing challenges, they were maintained given that such is based on risk.

The tender rate which was adjusted from 4.75% to 4.50% in June this year was maintained; the Marginal Lending Facility Rate also adjusted from 6.25% to 5.75% during the second ordinary session of the MPC was also maintained. It is the minimum below which a bank is not permitted to lend money.

The Compulsory Reserve Coefficients is now being maintained at 6.50% on sight liabilities and 4.00% on Term Liabilities. It is the percentage of a bank’s deposit that must be kept as reserve.

The Deposit Rate which is the interest financial institutions pay on cash deposit of account holders was maintained at zero percent. 

This article was first published in The Guardian Post Edition No:3924 of Tuesday September 29, 2026