IMF Staff Country Reports

Central African Economic and Monetary Community: Common Policies in Support of Member Countries Reform Programs-Press Release, Staff Report, and Statement by the Executive Director for the Central African Economic and Monetary Community

January 21, 2022

Download PDF

Preview Citation

Format: Chicago

Central African Economic and Monetary Community: Common Policies in Support of Member Countries Reform Programs-Press Release, Staff Report, and Statement by the Executive Director for the Central African Economic and Monetary Community, (USA: International Monetary Fund, 2022) accessed September 20, 2024

Also available in: français

Summary

Despite a more favorable external environment, marked by the rebound in global growth, fast-increasing oil prices, and unprecedented Fund financial support, CEMAC is ending 2021 in a fragile external position. Net external reserves fell throughout 2021 to reach their lowest level in decades, and gross reserves are just above three months of imports of goods and services. The launch of a second phase of the regional strategy at the August 2021 CEMAC Heads of States summit saw renewed commitments to accelerate structural, transparency, and governance reforms. The resumption of program engagements with the Fund, combined with high oil prices and significant fiscal adjustments in 2022, should allow for a turnaround, and the build-up in external reserves is expected to resume in 2022. Risks include possible adverse pandemic developments, oil price volatility, possible fiscal slippages, shortfall in external financing, and security issues.

Subject: Asset and liability management, Fiscal policy, Fiscal stance, International organization, Liquidity, Monetary base, Monetary policy, Money, Oil prices, Prices, Public debt

Keywords: CEMAC authorities, CEMAC country, CEMAC member country, Fiscal consolidation policy, Fiscal stance, Further policy commitment, Global, Liquidity, Monetary base, Oil prices, Policy measure

Publication Details

  • Pages:

    68

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2022/013

  • Stock No:

    1CAEEA2022001

  • ISBN:

    9798400200069

  • ISSN:

    1934-7685

You May Also Be Interested In...

Systemic Implications of Financial Inclusion

September 20, 2024

Navigating Minefields and Headwinds: National Security, Demographic Shifts, Climate Change and Fiscal Policy in Lithuania

September 20, 2024

Zimbabwe: Technical Assistance Report-Financial Sector Stability Report Follow Up Technical Assistance on the Implementation of the Basel III Liquidity Framework

September 20, 2024

Bangladesh: Technical Assistance Report-Report on Residential Property Price Index (RPPI) Mission (May 19–27, 2024)

September 20, 2024