CEMAC zone: recession could reach 6% according to BEAC

All the indicators are certainly not red. But most of the economic indicators in the six countries of the Economic and Monetary Community of Central Africa (CEMAC) are already found the Monetary Policy Committee (CPM) of the Bank of Central African States (BEAC) at the end of the second annual session on June 24, 2020 in Yaoundé.

Analyzing the situation in Central Africa, it emerges that in the short and medium terms, the CEMAC zone is affected by the health crisis and the fall in the prices of the main export products. "

"In the first half of 2020, the revival of productive activities was slowed down in the sub-region by the disruption of supply circuits for imported products as well as by the restrictive measures adopted by the various governments to contain the effects of the pandemic. Although it is premature for the moment to fully grasp the impact of COVID-19 on national economies, it is already anticipated during this first semester a drop in production as well as a det…

Africa's economic growth could drop from 3.2% to 1.8% due to the coronavirus (CEA)

During a press conference held on Friday March 13, 2020, the executive secretary of the Economic Commission for Africa (ECA), Vera Songwe said that economic growth in Africa could be projected decrease from 3.2% to 1.8% at the end of 2020, due to the recent coronavirus pandemic (covid-19).

Africa's economic growth could drop due to the coronavirus

Furthermore, she revealed, the continent could lose almost half of its gross domestic product (GDP), solely because of the macroeconomic effects that are observed. This, notably through the destruction of global supply chains, tourism, the slowdown in foreign direct investment, remittances and the price of oil, etc.

Although Africa has been the least affected continent since the outbreak of the coronavirus pandemic, there has been a disturbing increase in the disease in recent days, now affecting almost half of African countries. The spread of the pandemic has finally convinced African governments to adopt a series of drastic measures. These range from the closure of certain public places to the suspension of classes in the education system, including the limitation of passenger traffic to certain destinations.

To date, according to data from the World Health Organization (WHO), 28 African countries have registered a total of 362 confirmed cases of coronavirus contamination, including 9 deaths.

These include: Egypt (126), South Africa (61), Algeria (54), Morocco (28), Senegal (24), Tunisia (20), Ghana (6), Rwanda (5), Cameroon (4), Côte d'Ivoire (4), Ethiopia (4), Burkina Faso (3), Kenya (3), Seychelles (3) , Nigeria (2), DRC (2), Namibia (2), Sudan (1), Central African Republic (1), Congo (1), Equatorial Guinea (1), Gabon (1), Guinea (1), Liberia (1), Mauritania (1), Togo (1), Benin (1) and Tanzania (1).

Globally, more than 174,000 cases of covid-19 contamination have been recorded to date, with more than 6,000 deaths. Over 77,000 people are healed.