“(Business in Cameroon) – The securities buyback program on the secondary market will be concluded at the end of August 2021Â», Informs the central bank of CEMAC states in its recent research paper. In the newspaper, the bank adds that the program will not be renewed.
Through this revelation, in an article written by Ivan Bacale Ebe Molina, director of studies, finance and international relations of the BEAC, the BEAC somehow admits the mixed results of this program initially set up to inject 600 billion euros. FCFA in the treasuries of CEMAC countries to help fight the fallout from the coronavirus pandemic.
According to central bank statistics, from November 2020 to May 31, 2021, 215.6 billion FCFA of securities were bought back on the secondary market. This represents only 5.7% of government securities issued by member countries on the local market during the period.
Also, the volume of repurchased securities represents only a little more than a third of the funds set aside for the program despite the six-month extension decided in March 2021. shunned the program. For credible sources, this situation arose because market professionals consider the program too complex.