Central African Economic and Monetary Community: Recent Developments and Regional Policy Issues

International Monetary Fund

No 2003/398, IMF Staff Country Reports from International Monetary Fund

Abstract: Macroeconomic developments in the Central African Economic and Monetary Community (CEMAC) region have been satisfactory, but risks to macroeconomic stability persist. The process of convergence remains slow and needs strengthening, notably through the adoption of a fiscal rule and the elimination of bank financing of fiscal deficits. Continued efforts by the banking regulator are needed to strengthen the banking sector. There is a need to accelerate structural reforms, strengthen basic infrastructure, and adopt common sectoral policies aimed at diversifying the regional economy.

Keywords: ISCR; CR; CEMAC authorities; CFA franc; oil GDP; CEMAC; lower-than-expected oil-sector growth; member countries of the CEMAC; CEMAC country; nominal GDP growth; Fiscal stance; Monetary policy instruments; Oil; gas and mining taxes; Sub-Saharan Africa; Central Africa; Africa; West Africa (search for similar items in EconPapers)
Pages: 74
Date: 2003-12-31
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