Central African Economic and Monetary Community (CEMAC): Staff Report on Common Policies and Challenges of Member Countries

International Monetary Fund

No 2015/222, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses common policies of the member countries of the Central African Economic and Monetary Community (CEMAC). Medium-term prospects for CEMAC are uncertain. Despite their recent stabilization, oil prices are projected to remain well below pre-shock levels in the medium term. In addition, oil production is projected to start falling after 2017. The Executive Directors have encouraged the authorities to accelerate the reform of the monetary policy framework to improve transmission channels and better manage systemic liquidity. They have also stressed the importance of full compliance with the pooling of foreign exchange earnings with the regional central bank, and called for stepped-up efforts to implement outstanding safeguards recommendations.

Keywords: ISCR; CR; CEMAC authorities; CEMAC country; FAD CEMAC; CEMAC growth; SDR; CEMAC objective; CEMAC region; oil-price shock; Oil prices; Fiscal stance; Public investment spending; Central Africa (search for similar items in EconPapers)
Pages: 61
Date: 2015-08-04
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