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

IMF Staff Country Reports, December 20, 2019

Source details

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

Tighter macroeconomic and financial policies helped to avert a deeper crisis.
Gross external reserves increased more rapidly in recent months.
The increase in reserves was also helped by a stronger implementation of CEMAC foreign exchange regulations.
Reforms to support a more diversified and inclusive growth, including by improving governance and the business climate, should gain momentum to make current efforts to buttress the external position of the region sustainable.
The outlook for 2019 and beyond foresees further improvement in regional reserves assuming CEMAC countries remain committed to their program objectives.
New programs with Cameroon, Central African Republic and Equatorial Guinea could start around end-2019.

Sustain tighter macroeconomic and financial policies to preserve recent gains and avert deeper crises.
Continue strong implementation and enforcement of CEMAC foreign exchange regulations to support reserve accumulation.
Accelerate reforms to diversify the economy and promote inclusive growth.
Improve governance and the business climate to make external position improvements sustainable.
Maintain commitment to program objectives across CEMAC countries to realize projected reserve improvements for 2019 and beyond.

Central African Economic and Monetary Community
- Central African Economic and Monetary Community (Markdown version)
- Central African Economic and Monetary Community (PDF)