IN THE FACE OF THE TRANSFER BLOCKADE, UNIPACE REPRESENTATIVES REQUEST A REPRIEVE FROM THE BEAC

The Union des Patronats d'Afrique Centrale (UNIPACE), held an extraordinary session on May 11, 2021, under the leadership of Mr. Celestin TAWAMBA (President of GICAM). It was devoted to the examination of the situation arising from the application of the foreign exchange regulationsadopted by CEMAC members in December 2018. And more particularly, the provisions relating to thedischarge ofthe files of domiciliations of imports of goods and services.

UNIPACE, composed of the Confédération Patronale Gabonaise (CPG), the Union Patronale et Interprofessionnelle du Congo (UNICONGO), the Groupement Interprofessionnel de Centrafrique (GICA) and the Groupement Inter-Patronal du Cameroun (GICAM), has noted that for many companies, the breaking point will be reached at the end of May 2021. This would expose the sub-region to a a complete halt to economic activities in some important sectors, including the agri-food industry. The organizations also stated that the approaches made to their respective national authorities and the BEAC had not yielded any tangible results.

Following the obtaining by Equatorial Guinea of a six (06) months' deferment from the BEAC, on April 14, 2021, for the application of the above-mentioned measure, the employers' associations of the sub-region have decided to request, in view of the similarity of the problems and in the interest of equity, that the said deferment be extended to the other countries of the sub-region.

Through its members, the employers' association will thereforethesub-regional monetary authority and national authorities on the economic and on the economic and social consequences that such a situation would entail in the subregion, which is already plagued by various crises. A press release published in all the countries concerned, as well as several letters addressed to the decision-makers, have been endorsed so that a rapid solution can be found.