Implications of oil inflows for savings and reserve management in the CEMAC /

Implications of oil inflows for savings and reserve management in the CEMAC /

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Bibliographic Details
Author / Creator:	Drummond, Paulo Flavio Nacif, 1966- author.
Imprint:	[Washington, D.C.] : International Monetary Fund, African Dept., ©2007.
Description:	1 online resource (1 online reseource (24 pages)) : illustrations (some color)
Language:	English
Series:	IMF working paper ; WP/07/243 IMF working paper ; WP/07/243.
Subject:	Communauté économique et monétaire de l'Afrique centrale. Communauté économique et monétaire de l'Afrique centrale. Fiscal policy -- Africa, Central. Saving and investment -- Africa, Central. Petroleum industry and trade -- Economic aspects -- Africa, Central. Fiscal policy. Petroleum industry and trade -- Economic aspects. Saving and investment. Central Africa.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12494920

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. African Department, issuing body.
ISBN:	1283512475 9781283512473
Notes:	Title from title screen (viewed Sept. 22, 2009). "October 2007." Includes bibliographical references (pages 23-24). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 digitized 2010 HathiTrust Digital Library committed to preserve
Summary:	This paper argues that as part of their fiscal optimization strategies CEMAC countries should be given the opportunity to invest into longer-term assets that generate market-based returns. The BEAC has created a framework of longer-term savings funds but due to low remuneration and other factors usage has remained limited. The paper also argues that regional savings in the form of reserve accumulation must be sufficient to ensure the stability of the common currency. While the current level of common foreign reserves may now be appropriate, maintaining an adequate level calls for a link between country-specific savings decisions and the setting of a regional reserve target. Strengthening and diversifying reserve management will also be desirable, a process the BEAC has embarked upon.
Other form:	Print version: Drummond, Paulo Flavio Nacif, 1966- Implications of oil inflows for savings and reserve management in the CEMAC. Washington, D.C. : International Monetary Fund, African Dept., ©2007

Table of Contents:

I. Implications of oil inflows for savings and reserve management in the CEMAC. A. Overview
B. The anatomy of the oil inflows
C. Policy implications : oil savings and reserve management frameworks
D. Conclusions and issues going forward.