Regional Solidarity

As extremist groups with the support of unpatriotic minds crave to destabilize, or oust democratically elected governments, peace-loving nations cannot rest on their laurels. 
While this can be achieved through genuine democratic governance and cooperation, much can be attained through solidarity at sub-regional level, economic groupings being of one of the ingredients.
In the Central African Sub-region, it is laudable that economic cooperation surfaced not long after the attainment of political independence. But there has since been the challenge of keeping alive and viable institutions whose birth portray the maturity of its masterminds and above all, sustainable development.
The extra-ordinary summit of Heads of State of the Central African Economic and Monetary Community, CEMAC which held in Yaounde on Wednesday 18 August 2021 with the theme: “Review macroeconomic situation of the CEMAC Zone within the context of COVID 19 and the analyses of recovery measures” was indeed timely.
For, with the political, sanitation and security crises that are threatening most countries of this sub-region, we cannot afford to continue taking lightly issues that demand immediate brainstorming and redress measures. We must face our challenges through commitment to national and sub-regional objectives. 
At the summit, the current Chairman of the CEMAC, President Paul Biya, after regretting that COVID 19 had effected very negatively the sub-region’s economic growth rate which was 2.1% in 2019, called on member countries to accelerate the implementation of structural reforms without which the situation could continue to decline. He also appealed to governments of member states to improve the business climate to attract foreign investors, as well as nationals. This must not be undermined by member states of CEMAC.
Considering the fact that the global 3.3 per cent global rate of recession recorded in 2020 did not spare CEMAC member states, it is expedient to speed up the implementation of structural reforms, as well as ensure that the management of business undertakings is rigorous and transparent.
This is crucial because without respect of these business prescriptions, solidarity, a v...



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