Central African Economic and Monetary Community (CEMAC) : common policies of member countries; press release; staff report; and statement by the Executive Director.

Central African Economic and Monetary Community (CEMAC) : common policies of member countries; press release; staff report; and statement by the Executive Director.

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Bibliographic Details
Imprint:	Washington, D.C. : International Monetary Fund, [2016] ©2016
Description:	1 online resource (61 pages) : color illustrations.
Language:	English
Series:	IMF country report ; no. 16/277 IMF country report ; no. 16/277.
Subject:	International Monetary Fund -- Africa, Central. Communauté économique et monétaire de l'Afrique centrale. Communauté économique et monétaire de l'Afrique centrale International Monetary Fund Petroleum products -- Prices -- Africa, Central. Economic development -- Africa, Central. Fiscal policy -- Africa, Central. Monetary policy -- Africa, Central. Economic development Fiscal policy International economic integration Monetary policy Petroleum products -- Prices Africa, Central -- Economic integration. Central Africa
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/14153679

Hidden Bibliographic Details
Varying Form of Title:	Common policies of member countries; press release; staff report; and statement by the Executive Director
Other authors / contributors:	International Monetary Fund, publisher.
ISBN:	9781475529685 1475529686
ISSN:	1934-7685
Notes:	"August 2016." Includes bibliographical references. Description based on online resource; title from pdf title page (IMF.org website, viewed September 26, 2016).
Summary:	CEMAC is buffeted by the oil-price shock. The outlook has deteriorated, as members continue to suffer from the shock. Regional and national authorities have yet to take appropriate measures to address the economic downturn, whilst continuing to face substantial capacity constraints. Although the banking sector has weathered the downturn so far, government payment delays could undermine its soundness. Risks are significant: a weaker-than-expected oil price recovery or deteriorating security conditions could jeopardize macroeconomic stability.
Other form:	Print Version: Central African Economic and Monetary Community (CEMAC): Common Policies of Member Countries-Press Release; Staff Report; and Statement by the Executive Director Washington, D.C. : International Monetary Fund,2016 9781475529685
Standard no.:	10.5089/9781475529685.002

Description
Summary:	This paper discusses the common policies needed for the member countries of the Central African Economic and Monetary Community (CEMAC). CEMAC growth was subdued in 2015. It slowed to 1.6 percent, from 4.9 percent in 2014, because of reduced public investment and lower oil production. Policies to counter the oil-price shock need to focus on fiscal consolidation and real-economy reforms. In the wake of the oil-price shock, monetary financing has been the primary response tool. Fiscal policy coordination among members should be strengthened, and fiscal discipline enforcement is needed. Real-economy reforms, focusing on improving the business climate and boosting private investment, are also needed to preserve macroeconomic stability.
Item Description:	"August 2016."
Physical Description:	1 online resource (61 pages) : color illustrations.
Bibliography:	Includes bibliographical references.
ISBN:	9781475529685 1475529686
ISSN:	1934-7685