Central African Economic and Monetary Community: Staff Report on Common Policies of Member Countries;

August 22, 2006

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Format: Chicago

Central African Economic and Monetary Community: Staff Report on Common Policies of Member Countries;, (USA: International Monetary Fund, 2006) accessed December 22, 2024

Summary

Macroeconomic developments benefited from oil windfalls, but structural problems still impede non-oil growth. Fiscal and external balances improved in the Central African Economic and Monetary Community (CEMAC) because of the surge in oil prices and better fiscal management. Oil-related reserve inflows also helped accelerate regional broad money, leading to somewhat higher inflation and a small further appreciation of the real effective exchange rate (REER). Macroeconomic prospects for 2006 are positive, despite persistent structural challenges. Higher oil income offers CEMAC members economic opportunities but also challenges.

Subject: Banking, Exports, Financial Sector Assessment Program, Financial sector policy and analysis, Fiscal policy, Fiscal stance, Foreign exchange, International trade, Monetary base, Money, Real effective exchange rates

Keywords: Basis point increase, CEMAC authorities, CEMAC country, Central Africa, CR, Exports, Financial Sector Assessment Program, Fiscal stance, ISCR, Monetary base, Real effective exchange rates, Remuneration of government deposit, Staff appraisal

Publication Details

Pages:

53
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2006/317
Stock No:

1CAEEA2006002
ISBN:

9781451951684
ISSN:

1934-7685

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