IMF Staff Position Notes

The International Financial Crisis and Global Recession: Impact on the CEMAC Region and Policy Considerations

Author/Editor:

Dimitre Milkov ; Rafael A Portillo ; Plamen K Iossifov ; John Wakeman-Linn

Publication Date:

July 22, 2009

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

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. This 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 as well as the region’s external sustainability and reserve coverage. The note then provides general policy advice to CEMAC governments as they refine their response to the global crisis.

Series:

Staff Position Note No. 2009/020

Subject:

Fiscal policy Fiscal stance Fiscal sustainability Oil prices Oil, gas and mining taxes Prices Taxes

Notes:

Full text also available in French.

Frequency:

Annually