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Central African Economic and Monetary Community (CEMAC): 2013 Staff Report on Common Policies for Member Countries

Published: November 6, 2013
Electronic Access: Free Full Text (PDF file size is 2,195KB)
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Summary: This paper focuses on common policies for member countries of Central African Economic and Monetary Community (CEMAC). It highlights that the fiscal stance should be more cautious in some countries where policy buffers are insufficient to withstand shocks. The recent easing of monetary policy has been appropriate given the positive inflation outlook. Reserves coverage remains adequate and the real effective exchange rate is broadly in line with fundamentals but the issue of only partial repatriation of foreign exchange reserves by some member states needs be resolved. The fiscal surveillance framework should be revised to limit pro-cyclicality and better ensure long-term fiscal sustainability of oil-rich countries.
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Series: Country Report No. 13/322
Subject(s): Economic growth | Central African Economic and Monetary Community | Fiscal policy | Global competitiveness | Fiscal reforms | Financial sector | Economic integration | Monetary policy | Bank supervision | Economic indicators | Staff Reports | Press releases
Notes: Also available in French
    Published:   November 6, 2013        
    ISBN/ISSN:   9781475513783/1934-7685   Format:   Paper
    Stock No:   1CAEEA2013001   Pages:   99
    Price:   US$18.00
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