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

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. The oil revenue shock and accommodative fiscal policy by member countries supported by expansionary regional monetary p...

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Bibliographic Details
Corporate Author: International Monetary Fund African Dept
Format: eBook
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
Mortgages
Sovereign Debt
Money Supply
Monetary Base
Macroeconomics
Banking
Public Finance
Money And Monetary Policy
Central Africa Economic And Monetary Community
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary: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. The oil revenue shock and accommodative fiscal policy by member countries supported by expansionary regional monetary policies contributed to a fall in international reserves to a near critical point, despite initial spending cuts by some member countries. As a result of widening fiscal deficits and accommodative monetary policy, the current account deficit also widened substantially. International reserves reached the equivalent of 2.3 months of imports in December 2016
Physical Description:47 pages
ISBN:9781484316412

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