## Central African Economic and Monetary Community (CEMAC): Selected Issues

_IMF Staff Country Reports, January 3, 2019_

## Source details

**Canonical URL:** [Central African Economic and Monetary Community (CEMAC): Selected Issues](https://www.imf.org/en/publications/cr/issues/2019/01/03/central-african-economic-and-monetary-community-cemac-selected-issues-46502)

## Other formats

- [Markdown version](/en/publications/cr/issues/2019/01/03/central-african-economic-and-monetary-community-cemac-selected-issues-46502/index.md)
- [Structured JSON version](/en/publications/cr/issues/2019/01/03/central-african-economic-and-monetary-community-cemac-selected-issues-46502/index.json)
- [Bundle manifest](/en/publications/cr/issues/2019/01/03/central-african-economic-and-monetary-community-cemac-selected-issues-46502/bundle-manifest.json)

## Bibliographic details
- Published: January 3, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484392843.002

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### Overview
- Publication date: January 3, 2019
- Type: Selected Issues paper (IMF Staff Country Reports)
- Scope: Regional dimensions of a strategy to enhance governance in CEMAC to support country-level reforms.
- Core thematic focus: governance and corruption in public financial management, anti-money laundering, and the link between the oil sector and public resources.
- Regional role emphasized: CEMAC regional institutions must play a central role to lead progress and support member countries’ efforts, enabling a coherent framework and synergic actions across countries.

### Key analyses
- Governance dimensions described in the paper cover specific regional aspects relevant to a regional governance strategy.
- The paper analyzes governance and corruption specifically in:
  - public financial management
  - anti-money laundering
  - the link between the oil sector and public resources
- Argument: A coherent regional framework can create a virtuous circle that helps realize the benefits of an economic and monetary union.
- Strategic objective: Create conditions for a diversified economy, a well-functioning regional market, and an environment providing opportunities for all, with public resources geared to the most productive use.
- Context: The regional strategy implemented by CEMAC member countries and regional institutions is intended to support exit from a severe crisis faced by the region.

### Findings and implications (as stated)
- Strengthening governance at the regional level supports country-level reforms.
- Synergy between regional institutions and member countries can spur a virtuous circle critical to harnessing the benefits of an economic and monetary union.
- Effective governance and anti-corruption measures in public financial management, anti-money laundering, and oil-revenue management are central to recovery and diversification.
- The success of the regional strategy depends critically on laying the ground for a diversified economy and ensuring public resources are allocated to their most productive use.

### Policy recommendations and priorities (implied by analysis)
- Empower CEMAC regional institutions to lead and coordinate governance improvements across member states.
- Implement coherent regional frameworks that align and support country-level governance reforms.
- Prioritize reforms in public financial management to strengthen transparency and accountability.
- Enhance anti-money laundering frameworks and enforcement across the region.
- Improve governance and oversight of the oil sector to secure public resources and limit corruption.
- Focus regional efforts on enabling economic diversification and a well-functioning regional market that creates broad-based opportunities.

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## Content in this bundle

- **Country Report**
  - [Country Report (Markdown version)](/-/media/files/publications/cr/2019/cr1902.pdf.md){rel="alternate" type="text/markdown"}
  - [Country Report (PDF)](/-/media/files/publications/cr/2019/cr1902.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2019/01/03/central-african-economic-and-monetary-community-cemac-selected-issues-46502_