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Central African Economic and Monetary Community (CEMAC) Staff Report on the Common Policies in Support of Member Countries Reform Programs

This paper examines common policies supporting reform programs in member countries of the Central African Economic and Monetary Community. The sharp decline in oil prices has profoundly impaired the region’s external and fiscal balances. Oil export proceeds and budget oil revenues have plummeted bet...

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Bibliographic Details
Corporate Author: International Monetary Fund African Dept
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2017
Series:IMF Staff Country Reports
Subjects:
Fiscal Stance
Depository Institutions
Credit
Public Debt
Banks
Public Finance & Taxation
Banks And Banking
Monetary Economics
Debt Management
Monetary Policy, Central Banking, And The Supply Of Money And Credit: General
Micro Finance Institutions
Fiscal Policy
Debts, Public
Debt
Trade: General
Exports And Imports
Mortgages
International Economics
Money
Sovereign Debt
Money Supply
Monetary Base
International Trade
Macroeconomics
Banking
Public Finance
Money And Monetary Policy
Imports
Central Africa Economic And Monetary Community
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper examines common policies supporting reform programs in member countries of the Central African Economic and Monetary Community. The sharp decline in oil prices has profoundly impaired the region’s external and fiscal balances. Oil export proceeds and budget oil revenues have plummeted between 2014 and 2016. Several measures have been taken or are planned by the Bank of Central African States (BEAC) to support countries’ adjustment programs and help re-build reserves. BEAC has started to tighten the monetary policy stance with a first increase in its policy rate. The BEAC will also gradually eliminate its statutory advances to member countries, and will ensure implementation of strict limits aimed at restricting bank refinancing using government securities as collateral
Physical Description:47 pages
ISBN:9781484305775

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