Central African Economic and Monetary Community calls for enhancing member countries' economic governance capabilities

Brazzaville, January 23 (Xinhua) -- Leaders of member states of the Central African Economic and Monetary Community (CEMAC) held a special summit in Brazzaville, the capital of Congo (Brazzaville), on the 22nd, calling for measures to enhance the economic governance capabilities of member states.

Balthasar Engonga Edjo, Chairman of the Central African Economic and Monetary Community Committee, issued a statement after the meeting, stating that in the context of declining budget revenue, worsening public deficits, and increasing external debt repayment pressure, member countries need to take measures to enhance their governance capabilities, and the macroeconomic policies of the Central African Economic and Monetary Community also need to be adjusted accordingly.

At the closing of the meeting, the rotating chairman of the Central African Economic and Monetary Community and President of Congo (Brazzaville), Sassou, called on member countries to promote the process of economic diversification, accelerate structural reforms in governance capacity, fiscal regulations, business environment, and regional integration.

The Central African Economic and Monetary Community was established in 1999, with member countries including Cameroon, the Central African Republic, Chad, Equatorial Guinea, Gabon, and Congo (Brazzaville). The currency circulating within the community is the Central African Franc.