U.S. bill Targets IMF Support to CEMAC Over Disputed FX Reserves

• Proposed legislation demands IMF reject environmental funds as official reserves
• Move could freeze lending to CEMAC states and rattle investor confidence

Cotonou, Benin – A new bill introduced in the US Congress threatens to complicate access to International Monetary Fund resources for Central African nations. The draft legislation—dubbed the CEMAC Act—would block US support for any IMF programme involving members of the Central African Economic and Monetary Community unless there is a public clarification on the true nature of their foreign exchange reserves.