From September 25 to October 6, Cameroon will be examined by a Cemac delegation tasked with assessing the country’s tax policy.
The aim is to determine whether or not this policy complies with sub-regional standards as part of the multilateral surveillance, which involves CEMAC member states establishing procedures to adhere to common rules for coordinating national economic policies, particularly in budgetary matters. During this mission, CEMAC representatives will hold discussions with government officials responsible for economic and financial matters, employers, as well as technical and financial partners. The discussions will cover topics related to budgetary policy and the progress made in implementing various structural reforms that were launched as part of the Economic and Financial Program agreed with the International Monetary Fund (IMF) in July 2021.
Subjects related to ongoing reforms aimed at addressing public debt sustainability and actions yet to be implemented for the development of the 2024-2026 Triennial Convergence Program will also be covered, according to Jean-Claude Nguemeni, Director of Multilateral Surveillance at the CEMAC Commission and leader of this mission. Moreover, the mission will examine the measures taken by the government in implementing resolutions from the CEMAC Heads of State Summits in 2021 and 2023, as well as the state of implementation of recommendations arising from the evaluation of public investment management.
This visit will also assess the national measures taken to combat inflation, safeguard the purchasing power of vulnerable segments of the population against inflationary pressures, and accelerate the implementation of import-substitution policies. It will also review government efforts in ensuring the viability of certain state-owned enterprises (such as PAD, Camtel, Camwater, etc.) and evaluate the financial reforms related to CEMAC’s harmonized framework, given that Cameroon has transposed all relevant directives, Jean-Claude Nguemeni pointed out. This working visit to Cameroon marks the final leg of the sub-regional tour by the CEMAC mission, which began on August 7 in Equatorial Guinea.
Source: Business in Cameroon