Central African Economic and Monetary Community (CEMAC) : staff report on the common policies in support of member countries reform programs-press release, staff report, and statement by the Executive Director.

Central African Economic and Monetary Community (CEMAC) : staff report on the common policies in support of member countries reform programs-press release, staff report, and statement by the Executive Director.

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Bibliographic Details
Imprint:	Washington, D.C. : International Monetary Fund, 2019. ©2019
Description:	1 online resource (71 pages)
Language:	English
Series:	IMF Country Report ; No. 19/383 IMF country report ; no. 19/383.
Subject:	Communauté économique et monétaire de l'Afrique centrale. Communauté économique et monétaire de l'Afrique centrale. Monetary policy -- Africa, Central. Monetary policy. Economic history. Africa, Central -- Economic conditions. Central Africa.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/13513881

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund, issuing body.
ISBN:	1513523996 1513524283 9781513523996 9781513524283
Notes:	Online resource; title from PDF title page (IMF, viewed October 5, 2020).
Summary:	Tighter macroeconomic and financial policies helped to avert a deeper crisis, and gross external reserves increased more rapidly in recent months, largely exceeding the mid-2019 target. However, reserves are still below the level appropriate for commodityexporting economies (5 months of imports) to absorb terms of trade shocks. Fiscal consolidation has been tilted towards cuts in public investment. This, together with a lack of significant progress in structural reforms, has weighed on growth which remains too low. The outlook for 2019 and beyond foresees further improvement in regional reserves assuming CEMAC countries remain committed to their program objectives and new programs with CAR and Equatorial Guinea could start around end-2019. This outlook is subject to potentially significant risks, including: a significant slowdown in global growth and associated decline in oil prices; a deterioration in the security situation in some countries; and weaker implementation of IMF-supported programs.
Other form:	Print version: Central African Economic and Monetary Community (CEMAC): Staff Report on the Common Policies in Support of Member Countries Reform Programs-Press Release, Staff Report, and Statement by the Executive Director. Washington, D.C. : International Monetary Fund, 2019 9781513523996
Standard no.:	10.5089/9781513523996.002

Description
Summary:	This paper highlights annual discussions on Central African Economic and Monetary Community's (CEMAC) Common Policies in Support of Member Countries Reform Programs. Tighter macroeconomic and financial policies helped to avert a deeper crisis, and gross external reserves increased more rapidly in recent months, also helped by a stronger implementation of CEMAC foreign exchange regulations. Reforms to support a more diversified and inclusive growth, including by improving governance and the business climate, should gain momentum to make current efforts to buttress the external position of the region sustainable. The outlook for 2019 and beyond foresees further improvement in regional reserves assuming CEMAC countries remain committed to their program objectives and new programs with Cameroon, Central African Republic and Equatorial Guinea could start around end-2019.
Physical Description:	1 online resource (71 pages)
ISBN:	1513523996 1513524283 9781513523996 9781513524283