Central African Economic and Monetary Community (CEMAC) : financial system stability assessment /

Central African Economic and Monetary Community (CEMAC) : financial system stability assessment /

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Bibliographic Details
Imprint:	Washington, D.C. : International Monetary Fund, [2016] ©2016
Description:	1 online resource (60 pages) : color illustrations.
Language:	English
Series:	IMF Country Report ; No. 16/106 IMF country report ; no. 16/106.
Subject:	Communauté économique et monétaire de l'Afrique centrale. International Monetary Fund -- Africa, Central. Communauté économique et monétaire de l'Afrique centrale. International Monetary Fund. Fiscal policy -- Africa, Central. Monetary policy -- Africa, Central. Banks and banking -- State supervision -- Africa, Central. Disclosure of information -- Africa, Central. Banks and banking -- State supervision. Disclosure of information. Economic history. Fiscal policy. Monetary policy. Africa, Central -- Economic conditions. Central Africa.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12505071

Hidden Bibliographic Details
Other authors / contributors:	Laurens, Bernard, author. Pancorbo, Antonio, author. International Monetary Fund. publisher.
ISBN:	1484338960 9781484338964 9781484338964
ISSN:	1934-7685
Notes:	"April 2016." "July 2, 2015; prepared by Bernard J. Laurens and Antonio Pancorbo; this report is based on the work of a joint IMF/World Bank team that visited Brazzaville and Pointe Noire (Republic of Congo), Douala and Yaundé (Cameroon), and Libreville (Gabon) in November 2014 and January 2015, to update the Financial Sector Assessment Program (FSAP) for the CEMAC conducted in 2006."--Page 2 of pdf. Description based on online resource; title from pdf title page (IMF.org website, viewed May 16, 2016).
Summary:	The short-term risk of a financial crisis appears low, but the assessment identified pockets of vulnerabilities. The financial sector is not well positioned to contribute effectively to the financing of the CEMAC economies, and it faces an intensification of risk factors related to geopolitical tensions and the fall in commodity prices. Reform progress has been slow in addressing longstanding weaknesses, despite extensive technical assistance (TA), and the urgency for progress is heightened by recent macroeconomic developments. Firm action is required to foster the development of the financial sector while ensuring adequate oversight of risk factors. The reform agenda calls for granting greater operational autonomy to the regional financial agencies, and boosting their capacity to carry out the reform projects successfully. Prudential regulations need to be upgraded, and regulatory forbearance should be avoided through effective enforcement. There is also considerable scope for enhancing the business climate, one of the weakest worldwide, and financial inclusion, which has been lagging behind.
Other form:	Print Version: Central African Economic and Monetary Community (CEMAC): Financial System Stability Assessment. Washington, D.C. : International Monetary Fund, 2016. 9781484338964
Standard no.:	10.5089/9781484338964.002

Description
Summary:	This paper provides detailed assessment of the Central African Economic and Monetary Community's (CEMAC's) financial system. Over the past decade, primarily as a result of high oil prices, CEMAC achieved robust economic growth, although lower than the SSA average, but insufficient to significantly reduce poverty. A poor business climate and weak governance are hampering financial sector development and its contribution to financing investments. The weakness of regional integration also limits the growth potential. The drop in oil prices by about 60 percent between June 2014 and January 2015 has had a large impact on CEMAC countries' macroeconomic performance.
Item Description:	"April 2016." "July 2, 2015; prepared by Bernard J. Laurens and Antonio Pancorbo; this report is based on the work of a joint IMF/World Bank team that visited Brazzaville and Pointe Noire (Republic of Congo), Douala and Yaundé (Cameroon), and Libreville (Gabon) in November 2014 and January 2015, to update the Financial Sector Assessment Program (FSAP) for the CEMAC conducted in 2006."--Page 2 of pdf.
Physical Description:	1 online resource (60 pages) : color illustrations.
ISBN:	1484338960 9781484338964
ISSN:	1934-7685