CEMAC Misses Foreign Reserves Target as IMF Warns of Economic Uncertainty

• Bloc falls €4.43 billion short of net foreign assets target for June 2024
• IMF urges fiscal consolidation and stricter foreign exchange enforcement

Yaoundé, Cameroon – The Central African Economic and Monetary Community (CEMAC) failed to meet its net foreign assets (NFA) target for June 2024, missing the mark by €4.43 billion, the International Monetary Fund (IMF) said on Wednesday.