The International Financial Crisis and Global Recession: Impact on the CEMAC Region and Policy Considerations
IMF Staff Position Notes, July 22, 2009
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- The International Financial Crisis and Global Recession: Impact on the CEMAC Region and Policy Considerations
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Bibliographic details
- Authors: Dimitre Milkov, Rafael A Portillo, Plamen K Iossifov, John Wakeman-Linn
- Published: July 22, 2009
- Series: IMF Staff Position Notes
- DOI: https://doi.org/10.5089/9781455255252.004
Summary
- The financial sector of the Central African Economic and Monetary Community (CEMAC) has been seriously affected by the global financial crisis and resulting global recession.
- The note assesses the response of CEMAC governments to the global financial crisis and recession, with particular focus on:
- the impact of current policies on each country’s fiscal sustainability; and
- the region’s external sustainability and reserve coverage.
- The note provides general policy advice to CEMAC governments as they refine their response to the global crisis.
- Full text also available in French.
Assessment of CEMAC policy responses
- Evaluates government responses to the global financial crisis and recession across CEMAC member countries.
- Focuses on how those responses affect fiscal sustainability at the country level.
Impact on external sustainability and reserve coverage
- Analyzes the implications of the crisis and policy responses for the region’s external sustainability.
- Examines reserve coverage and related vulnerabilities facing the CEMAC region.
Policy advice and recommendations
- Provides general policy advice to CEMAC governments aimed at refining crisis responses.
- Emphasizes balancing measures to address the immediate effects of the global recession with steps to preserve fiscal sustainability and external stability.
Content in this bundle
- _spn0920 - Executive Summary
- _spn0920f