Central African Economic and Monetary Community (CEMAC): Selected Issues

November 11, 2005

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Central African Economic and Monetary Community (CEMAC): Selected Issues, (USA: International Monetary Fund, 2005) accessed September 20, 2024

Summary

This Selected Issues paper on the Central African Economic and Monetary Community (CEMAC) reviews the evolution of actual and equilibrium real effective exchange rates (REER). The current level of the CEMAC REER is broadly in line with its long-term equilibrium value. The estimation approach herein is subject to certain limitations, some of which are inherent to the literature that tries to estimate the equilibrium REERs. Absolute statements about magnitudes of any possible misalignments should be avoided given the degree of model uncertainty; error bands around estimated equilibrium exchange rates may, in some cases, yield inconclusive results.

Subject: Commercial banks, Exports, External position, Financial institutions, Foreign assets, Foreign exchange, International trade, Real effective exchange rates, Real exchange rates, Terms of trade

Keywords: CEMAC, CEMAC exchange rates, CEMAC region, Commercial banks, CR, Devaluation, Devaluation real GDP growth, Exchange rate, Exchange rate development, Exports, Foreign assets, ISCR, Real effective exchange rates, REER appreciation, Right, Sub-Saharan Africa, Terms of trade, Tetriary GDP Deflator, West Africa

Publication Details

Pages:

82
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2005/390
Stock No:

1CAEEA2005001
ISBN:

9781451806519
ISSN:

1934-7685

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