posted by www.equatorialguineaonline.com – September 12th, 2012
The growth rate of the Economic and Monetary Community of Central Africa for 2012 will be about 6%, as announced by its President, Pierre Moussa, together with the Vice President, the Equatorial Guinean Rosario Mbasogo Kung.
Pierre Moussa said that the monetary situation of the Economic and Monetary Community of Central Africa (CEMAC) –the body that is the hope of some forty-four million people- feels stable as of December 31, 2011, marked by an increase in net foreign assets, facilitating loans to the economy, the money supply and a coverage rate of external monetary emission at 100% in 2011.
Moussa’s speech was delivered in the presence of members of the CEMAC Commission, the president of the Court of Justice of the community, the Secretary-General, on behalf of the Governor of the Central Bank of the States of Africa, the President of the Central African Development Bank and of the specialized agencies of the institution, among others.
During his term, the President of the CEMAC and the Vice President Rosario Mbasogo Kung have the mission of consolidating the benefits, execute the Regional Economic Program (PER); deepening ongoing reforms, carrying out the work of the newly created institutions and promote community funding.
They must also strengthen the convergence of our economies and the freedom of movement, ensure the implementation of Community legislation, carry out the implementation of common sectoral policies and develop international cooperation.
Pierre Moussa announced that, together with the Vice President, he will work with a growing political will to achieve a strong credible common currency, a rehabilitated development bank, the consolidation of the customs union and a common external tariff in force, as well as in the development of common sector policies and the Regional Economic Program.