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

IMF Staff Country Reports, December 19, 2017

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Canonical URL: Central African Economic and Monetary Community (CEMAC): Common Policies of Member Countries and Policies in Support of Member Countries Reform Programs-Press Release; Staff Report; and Statement by the Executive Director

The paper discusses the common policies of the member countries of the Central African Economic and Monetary Community (CEMAC).
CEMAC’s medium-term outlook remains challenging.
The outlook foresees a gradual improvement in the economic and financial situation in the region, assuming full implementation of policy commitments by CEMAC member states and regional institutions.
Policies to diversify the economies by improving the business environment, including through enhanced governance and transparency, would support higher growth in the medium term.
The monetary policy stance would be kept tight as needed to support external stability and reserves accumulation.

Forecast: gradual improvement in economic and financial situation in the region.
Key assumption: full implementation of policy commitments by CEMAC member states and regional institutions.
Structural focus: diversification of economies to support higher medium-term growth.

Diversify economies through improvements in the business environment.
Enhance governance and transparency to support private-sector activity and growth.
Implement agreed policy commitments at both national and regional levels to realize the projected gradual improvement.

Maintain a tight monetary policy stance as needed.
Objective of the tight stance: support external stability and reserves accumulation.

International Monetary Fund. December 19, 2017.