The worry is from the Employers Cartel, GICAM and is backed by the fact that there is a shortage of currency in the country which is now of acute gravity.
A communique from GICAM indicates that some companies have suspended their foreign operations as a result of the currency scarcity and many others are about to do so.
According to GICAM, the situation will greatly paralyse the economy of the country and the repercussions would be felt even in households.
In fact the problem is that there is not enough foreign currency like Dollars and Euros in Cameroonian Banks preventing transactions of a wide range of imported products since economic operators are facing difficulties paying bills of their foreign partners.
Consequently there could be a hike in the prices of basic commodities in the country in particular and the Sub Region at large.
Economists attributes the situation to financial conventions signed between the countries of the CEMAC Sub Region and France, where the government of Cameroon is now unable to respect some of the terms.
One of Cameroon’s economists, Hubert Kamgang advises that the country should dissolve the conventions with France.
