CEMAC: BEAC Governor dismisses FCFA devaluation rumours, reaffirm monetary stability.

The official debunked the rumours and reaffirmed monetary stability across the CEMAC Subregion in Yaounde on Thursday, April 30. He made the clarifications during the Finance Week 2026.

Speaking to financial sector stakeholders, policymakers and business leaders, he stated that such claims have no basis and are not under consideration between 2024 and 2027.

“Devaluation is not on the agenda. Not in 2024, not in 2025, not in 2026, not in 2027. The rumours are totally unfounded,” Sana Bangui told the gathering.

Bangui addressed persistent narratives circulating over the past two years suggesting that economic indicators may not reflect underlying realities, warning that such interpretations risk fuelling unnecessary uncertainty among populations and investors.

“Sometimes, authorised or anonymous voices call for a devaluation of the CFA franc. They project catastrophic scenarios and stir fear among the population. I want to be clear: this is not grounded in reality,” Sana Bangui said.

Transparency, data integrity at core

The BEAC Governor emphasised that all published economic indicators, including inflation, growth, foreign exchange reserves and public debt are based on internationally recognised macroeconomic models and undergo strict verification processes. He underlined transparency as a central pillar of the institution’s policy approach.

“The data we publish are rigorously collected, verified and audited. They comply with international standards and reflect real macroeconomic conditions. Devaluation is not on the agenda,” he stated.

The clarification comes as the region navigates a complex economic environment marked by external shocks and domestic fiscal pressures. 

According to projections presented during the event, CEMAC’s economic growth is expected at 2.9% in 2026, with inflation contained at 2.3%, remaining below the community threshold of 3%.

Sana Bangui highlighted a projected improvement in public finances, with the budget deficit expected to narrow significantly to 2.2% of GDP in 2026 from a deeper 5.8% in 2025. 

The adjustment reflects ongoing fiscal consolidation efforts by member states, supported by regional policy coordination frameworks.

Foreign exchange reserves are forecast to remain stable, covering more than four months of imports, while public debt is expected to stay below the regional ceiling of 70% of GDP, at around 49.8%.

However, vulnerabilities remain. The current account deficit is projected to widen to 5.2% of GDP in 2026, driven by rising imports and deteriorating terms of trade. 

External shocks, including geopolitical tensions in the Middle East, continue to pose risks through their impact on supply chains and commodity prices.

“We are focused on strengthening our macroeconomic framework and reinforcing the resilience of our economies,” Sana Bangui said.

Structural challenges, banking sector pressures

Data from the BEAC Governor’s presentation also pointed to structural constraints within the regional economy. 

He said while the banking sector remains broadly stable, with total assets exceeding 27,500 billion FCFA in 2025, vulnerabilities persist. 

Sana Bangui cited high exposure to sovereign risk, elevated non-performing loans at 16%, and limited access to credit for small and medium-sized enterprises. 

He also detailed that around 70% of the population remains underbanked, highlighting gaps in financial inclusion. The concentration of credit among a few large borrowers and sectors, he said, continues to pose systemic risks. 

At the same time, he detailed that economic diversification is gradually taking shape, with non-oil sectors such as agriculture, construction, digital services and telecommunications contributing more significantly to growth.

Policy coordination key to stability

Sana Bangui stressed that the effectiveness of monetary policy will depend on stronger coordination with national fiscal policies. 

He said measures are already underway, including tighter control over foreign exchange operations, improved monitoring of export revenues, and stricter oversight of external borrowing. 

The implementation of commitments adopted by CEMAC Heads of State in January 2026, under the PREF-CEMAC framework, he said, is expected to play a critical role in stabilising public finances and strengthening the external position of the currency.

The Governor of BEAC concluded by calling for mobilisation across both public and private sectors to sustain investment and support economic transformation, while maintaining confidence in the region’s monetary framework.

This article was first published in The Guardian Post Edition No:3781 of Wednesday May 06, 2026