The International Financial Crisis and Global Recession: Impact on the CEMAC Region and Policy Considerations

Dimitre Milkov, Rafael Portillo, Plamen Iossifov and John Wakeman-Linn
Authors registered in the RePEc Author Service: Пламен Йосифов

No 2009/020, IMF Staff Position Notes from International Monetary Fund

Abstract: The financial sector of the Central African Economic and Monetary Community (CEMAC) has been seriously affected by the global financial crisis and resulting global recession. This note assesses the response of CEMAC governments to the global financial crisis and recession, with particular focus on the impact of current policies on each country’s fiscal sustainability as well as the region’s external sustainability and reserve coverage. The note then provides general policy advice to CEMAC governments as they refine their response to the global crisis.

Keywords: SPN; CEMAC; WEO projection; deficit; price; financial crisis; CEMAC country; CEMAC region; CEMAC bank; CEMAC finance ministers; Oil prices; Fiscal sustainability; Fiscal stance; Oil; gas and mining taxes; Global (search for similar items in EconPapers)
Pages: 17
Date: 2009-07-22
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