BEAC Extends Bond Buyback Program

Business In Cameroon

During its December 21, 2020, videoconference, the Bank of Central African States’ (BEAC) Monetary Policy Committee decided to extend its bond buyback program by six months.

According to the policy, the extension will be effective from March 1, 2021. This means that the program is extended till September 1, 2021.

The buyback program was authorized during the policy’s videoconference of July 22, 2020, and aimed at mitigating the impacts of the coronavirus pandemic on CEMAC economies. BEAC launched the program on September 1, 2020, to inject up to XAF600 billion (XAF100 billion per member countries) into the CEMAC economy. However, many countries are shunning the program deeming it burdensome 

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