CEMAC finance ministers, central bank governors, and French officials convened at Bercy on March 17 to take stock of where monetary cooperation and structural reform delivery actually stand across the Central African sub-region.
The session brought together economy and finance ministers, central bank governors, and institutional representatives from CEMAC member states and France to review implementation of agreed reforms and coordinate on regional development priorities. It followed an earlier gathering in April 2025 and sits within the broader framework of monetary cooperation and economic partnership between France and the CEMAC region. Officials stressed the need to sustain momentum on structural reforms designed to stabilize public finances, build foreign exchange reserves, and create conditions favorable to private investment.
Execution was the central preoccupation. Discussions focused on carrying out recommendations adopted at an extraordinary CEMAC summit held in Brazzaville on January 22, 2026, and on the status of a joint policy review being conducted by the International Monetary Fund, which determines eligibility for ongoing national programs. CEMAC member states reaffirmed their commitment to completing that review and implementing its findings, while pledging to execute current programs and negotiate new ones with technical and financial partners.
France restated its backing for macroeconomic stability in the sub-region, framing its support through the existing economic and monetary partnership with CEMAC. French officials also signaled continued engagement in facilitating dialogue between CEMAC governments and external partners, including the IMF, on technical and financial cooperation.
Meanwhile, on the infrastructure side, the BEAC, CEMAC’s central bank, has moved to expand payment capacity by joining the Pan-African Payment and Settlement System (PAPSS). The step enables instantaneous cross-border transactions across the continent and reduces reliance on external payment corridors, a practical shift in how regional settlements are processed.
The meeting reflects ongoing efforts to coordinate policy across a region where monetary and fiscal frameworks remain under international scrutiny. Delivery gaps and timeline pressures are real: the IMF review process sets the pace for national program eligibility, and the Brazzaville summit commitments now require concrete follow-through at the country level.
In parallel developments affecting the broader African economic landscape, the Paris Club reported on implementation of its Common Framework for debt relief, five years after the mechanism’s establishment. The framework has become the primary vehicle for coordinating bilateral debt restructuring for countries in financial distress. Separately, Senegal announced that its target for reducing the budget deficit to 3 percent of GDP would be postponed to 2029, extending the timeline for fiscal consolidation. Namibia was removed from the Financial Action Task Force’s grey list, signaling improved compliance with international standards on money laundering and terrorist financing.
Whether the CEMAC member states can close the gap between the commitments made in Brazzaville and measurable reform delivery on the ground remains the question that the next review cycle will have to answer.