Central African Economic and Monetary Community (CEMAC): Press Release; Staff Report; and Statement by the Executive Director
IMF Staff Country Reports, March 11, 2025
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- Central African Economic and Monetary Community (CEMAC): Press Release; Staff Report; and Statement by the Executive Director
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Bibliographic details
- Published: March 11, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229003711.002
Overview
- Presents discussions on CEMAC Common Policies and Common Policies in Support of Member Countries Reform Programs.
- CEMAC economy lost momentum in 2023 due to a contraction in hydrocarbon production, while the external position weakened.
- Extraordinary Heads of State Summit in December 2024 expressed commitment to address macroeconomic imbalances, strengthen regional institutions, and prioritize structural reforms.
Macroeconomic developments and medium-term outlook
- Growth is projected to strengthen to 3.6 percent by 2029, mainly owing to a rebound in the non-oil sector.
- The commitment at the December 2024 summit is expected to support a more resilient medium-term outlook if implemented.
Fiscal position and public debt
- Member states are anticipated to implement sustained fiscal consolidation.
- Public debt projected to decline to 42 percent of gross domestic product (GDP) by 2029, down from 50.9 percent of GDP in 2024.
- Implementing fiscal consolidation in line with summit commitments is critical to bolstering economic diversification and resilience.
Structural reforms and institutional priorities
- Accelerating structural reforms is critical to bolstering economic diversification and resilience.
- Structural reforms cited:
- Improving governance.
- Enhancing the business climate.
- Expanding access to finance.
- These reforms are expected to bolster potential output.
Policy recommendations and priorities
- Implement fiscal consolidation consistent with commitments from the December 2024 Heads of State Summit.
- Strengthen regional institutions to support macroeconomic stability.
- Prioritize and accelerate structural reforms to diversify the economy away from hydrocarbons and to enhance resilience.
Key statistics and publication notes
- Year of economic slowdown: 2023.
- Summit date: December 2024.
- Growth projection: 3.6 percent by 2029.
- Public debt: 50.9 percent of GDP in 2024; projected 42 percent of GDP by 2029.
- Publication date: March 11, 2025.
- Pages: 87.
- Issue: 064.
- Series: Country Report No. 2025/064.
- DOI: https://doi.org/10.5089/9798229003711.002
- ISBN: 9798229003711
- ISSN: 1934-7685
Source: Central African Economic and Monetary Community (CEMAC): Press Release; Staff Report; and Statement by the Executive Director (IMF Staff Country Reports 2025, 064).
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