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Blocking airline funds: Africa singled out, the Cemac zone in second position

11/12/2024
Source : ORISHAS FINANCE
Categories: Sectors

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L'Association du transport aérien international (Iata) a publié des données on 9 December last year, according to which companies on the African continent are experiencing difficulties in repatriating their revenues. And the Cemac zone coming in second position

.

The latest data from the International Air Transport Association (IATA) indicates that bringing revenue back from the African continent remains a headache for airlines. Indeed, for Iata, on a total of 1.7 billion dollars (about 1.6 billion euros) in funds blocked by governments around the world at the end of October, at the end of October, more than 780 million were in Africa. The African continent is singled out, the CEMAC zone comes in second position with 235 million dollars, as well as four African countries (Algeria, Mozambique, Angola, Eritrea) and the zone Uemoa that appear on the list of bad performers drawn up by the Krk; Iata

.

Selon les informations, en zone Cemac, the funds have accumulated for 5 years. For Iata, these blockages stem in particular from the monetary policies of African countries which, facing an unprecedented crisis in foreign exchange reserves for many of them, seek to limit any outflow

of currencies.
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