Conference-debate on foreign exchange regulations in the CEMAC zone and Congo: issues and challenges
05 May, 2023
The Association of Graduates of the Technical Institute of Banks (AD-ITB) of Paris (France) organized, Friday May 5, 2023 in Brazzaville, in partnership with the National Financial Investigation Agency (ANIF), and the Professional Association of Credit Institutions (APEC), a conference-debate under the theme: “exchange regulations in the CEMAC zone and in Congo: issues and challenges”.
This meeting aimed to raise awareness among the various actors and users involved in foreign exchange operations on the legislation in force, as well as its application. Because, the relevant law being recently published (December 2018), still experiences some difficulties in its application. The popularization of this new regulatory system on the new issues of these texts could facilitate better appropriation by all stakeholders.
The panelists highlighted, among other things, the impact on reforms. The implementation of the Regulation enabled the management of net transfer flows with the ultimate aim of constantly preserving an optimal level of foreign exchange reserves to ensure the external stability of the currency, and the continuation of operations of economic agents. of the sub-region. This text made it possible to broaden the tax base; daily monitoring of external assets of CEMAC (Central African Economic and Monetary Community) credit institutions.
At the end of the presentations, important debates took place with the participants, in particular on: the modalities of repatriation and retrocession of currencies to the BEAC, and particularly the determination of the applicable rates, the retrocession rate and the execution deadlines. of these operations; coverage by the BEAC of credit institutions’ forward operations and the efficiency of the Central Bank’s trading room; the impact of exchange regulations on the export of raw materials, in particular on the sustainability of agreements between States and their foreign partners in the oil and mining sectors; the actions carried out by the BEAC to eradicate the black exchange market; compliance with prudential ratios linked to foreign exchange positions; domiciliation of imports and exports of goods and services; domiciliation of imports from extractive companies;…
This conference-debate was attended by agents of the Bank of Central African States (BEAC); the representative of the Ecole supérieure de Banque de Paris; Executives of the Ministry of Economy and Finance; Members of banking establishments, and audit firms.
The Communication Unit of the Ministry of Economy and Finance