The Economic and Monetary Community of Central Africa (CEMAC) is facing a major financial crisis due to a colossal debt of 263 billion FCFA accumulated by its member states. Faced with this alarming situation, the institution has taken drastic measures, including the threat of excluding recalcitrant countries.
The CEMAC Parliament adopted a resolution on March 2, marking the end of the "diplomacy of patience". From now on, automatic sanctions will be applied to member states that do not pay their contributions, without the possibility of dilatory political appeals. Articles 51 and 52 of the new regulation allow the Bank of Central African States (BEAC) to directly deduct the sums due from the accounts of defaulting countries. This automatic seizure mechanism aims to bypass defaulters and clean up the organization's finances.
In addition to financial levies, CEMAC is considering suspending recalcitrant states from all community activities and bodies. This radical measure aims to deter free-rider behavior and ensure the survival of regional integration. The stakes are high: without regular funding, the implementation of common policies, particularly in the customs, monetary and security fields, would be compromised.
This decision marks a turning point in the management of CEMAC's finances and could paradoxically strengthen collective budgetary discipline. It remains to be seen which states are the main debtors and how they will react to this loss of financial sovereignty. In 2025, CEMAC member states used public debt markets, raising a record amount of 5272.8 billion FCFA. Cameroon was the third largest issuer of public securities on the CEMAC regional market, reaching 1831.35 billion FCFA as of January 31, 2026.
