beac

BEAC, the Banque des États de l'Afrique Centrale (Bank of Central African States), is the central bank for the six member states of the Central African Economic and Monetary Community (CEMAC). It issues the Central African CFA franc (XAF), conducts monetary policy, manages foreign exchange reserves, regulates banks, and provides lender-of-last-resort facilities to the regional banking system. The BEAC's mandate is to maintain price stability, support financial stability, and foster regional economic integration across its members.

Member states served by BEAC are Cameroon, the Central African Republic, Chad, the Republic of the Congo, Equatorial Guinea, and Gabon. The bank is headquartered in Yaoundé, Cameroon. Its governance structure includes a Governing Council composed of the finance ministers of the member states, a Board of Directors, and an executive management team led by a Governor and a Vice-Governor.

Monetary framework and operations: the Central African CFA franc (XAF) is pegged to the euro at a fixed exchange rate, with convertibility and stability supported by BEAC's monetary policy and reserve management. BEAC coordinates with national authorities to implement regional macroeconomic policies within the framework of CEMAC, aiming to promote macroeconomic stability, financial sector development, and sustainable growth across its member economies.