Central African leaders have ordered urgent fiscal and monetary measures aimed at stabilising the region\u2019s weakening economies, including the repatriation of state assets and export revenues held abroad.<\/p>\n
<\/p>\n
The decision followed an extraordinary summit in Brazzaville, where heads of state prioritised the return of funds generated by the extractive sector and instructed governments to finalise negotiations to repatriate oil-related environmental restoration funds. The move is expected to boost liquidity in regional banks and ease pressure on local currencies.<\/p>\n
<\/p>\n
Ghanaian Economist George Antwi-Boasiako said the region\u2019s economic challenges are rooted in structural weaknesses that extend beyond short-term shocks.<\/p>\n
<\/p>\n
\u201cMany African countries, including those in Central Africa, are struggling with insufficient domestic revenue mobilisation,\u201d Antwi-Boasiako said. \u201cGovernments are finding it difficult to generate enough tax revenue to match rising expenditure, which puts constant pressure on public finances.\u201d<\/p>\n
<\/p>\n
He added that climate volatility has further weakened economic performance, particularly in agriculture, where unpredictable weather patterns have reduced productivity and increased vulnerability.<\/p>\n
<\/p>\n
Antwi-Boasiako also pointed to limited control over natural resource revenues as a key factor behind the region\u2019s economic fragility.<\/p>\n
<\/p>\n
\u201cThere is still a challenge in how natural resource revenues are managed and retained locally,\u201d he said. \u201cThis is why leaders are now stepping up to take greater control of income from extractive sectors.\u201d<\/p>\n
<\/p>\n
High interest rates on foreign borrowing have compounded the problem, with Antwi-Boasiako describing some external loan arrangements as unfavourable and unsustainable.<\/p>\n
<\/p>\n
\u201cAccess to concessional financing is critical,\u201d he said. \u201cMany countries are locked into expensive loans from global markets, which only worsen debt pressures instead of supporting growth.\u201d<\/p>\n
<\/p>\n
While acknowledging political, social and institutional constraints, Antwi-Boasiako said the Brazzaville summit signals growing regional co-operation in tackling shared economic challenges.<\/p>\n
<\/p>\n
\u201cThis collective approach shows a willingness to improve fiscal discipline, transparency and long-term capital management across the sub-region,\u201d he said.<\/p>\n
<\/p>\n
–ChannelAfrica–<\/p>\n
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