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

December 19, 2017

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Central African Economic and Monetary Community (CEMAC): Selected Issues, (USA: International Monetary Fund, 2017) accessed December 26, 2024

Also available in: français

Summary

This paper discusses the CEMAC Regional convergence framework that aims at ensuring that national policies are consistent with a smooth functioning of CEMAC’s economic and monetary union. Established in 1999, a few years after the 1994 devaluation, as part of the Convergence and Stability Pact, it aims at addressing the coordination challenges posed by CEMAC’s common monetary policies and decentralized fiscal policies. CEMAC Regional convergence framework aims at ensuring that national policies are consistent with a smooth functioning of CEMAC’s economic and monetary union. Established in 1999, a few years after the 1994 devaluation, as part of the Convergence and Stability Pact, it aims at addressing the coordination challenges posed by CEMAC’s common monetary policies and decentralized fiscal policies. Owing in part to the weaknesses, the fiscal convergence framework has not been sufficient to prevent a sharp deterioration in public accounts over the last few years.

Subject: Banking, Fiscal governance, Fiscal policy, Fiscal stance, Fiscal sustainability, Oil, gas and mining taxes, Public debt, Taxes

Keywords: Balance, Bank, Banking activity, Broadening CEMAC, CEMAC countries government, Convergence framework, CR, Europe, Fiscal governance, Fiscal stance, Fiscal sustainability, Gas and mining taxes, Government, Government expenditure path, ISCR, Member-state government, Oil, Oil-producing country, Repayment plan, Revenue, Sovereign-banks nexus, Sovereigns vis-à-vis bank

Publication Details

Pages:

29
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/393
Stock No:

1CAEEA2017003
ISBN:

9781484334294
ISSN:

1934-7685

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