IMF Staff Country Reports

This paper presents discussions on Central African Economic and Monetary Community (CEMAC) Common Policies and Common Policies in Support of Member Countries Reform Programs. The CEMAC economy lost momentum in 2023 due to a contraction in hydrocarbon production, while the external position weakened. The commitment expressed at the extraordinary Heads of State Summit in December 2024 to address macroeconomic imbalances, strengthen regional institutions, and prioritize structural reforms offers hope for a more resilient medium-term outlook. Implementing fiscal consolidation in line with these commitments and accelerating structural reforms will be critical to bolstering economic diversification and resilience. In the medium term, growth is projected to strengthen to 3.6 percent by 2029, mainly owing to a rebound in the non-oil sector. Structural reforms aimed at improving governance, enhancing the business climate, and expanding access to finance are expected to bolster potential output. Member states are anticipated to implement sustained fiscal consolidation, with public debt projected to decline to 42 percent of gross domestic product (GDP) by 2029, down from 50.9 percent of GDP in 2024.