| Description |
1 online resource (48 pages) |
| Series |
IMF Staff Country Reports |
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IMF Staff Country Reports; Country Report ; no. 17/389
|
| Contents |
Cover; CONTENTS; BACKGROUND AND RECENT DEVELOPMENTS; REGIONAL STRATEGY TO ADDRESS THE CRISIS, OUTLOOK, AND RISKS; COMMON POLICIES TO SUPPORT CEMAC COUNTRIES REFORM PROGRAMS; MONITORING OF REGIONAL DEVELOPMENTS AND POLICIES; STAFF ASSESSMENT; BOXES; 1. CEMAC's Program of Economic and Financial Reforms plan (PREF-CEMAC) Responding to the Shock-Setting the Stage for More Inclusive Growth; 2. Safeguards to Support Fiscal Discipline; FIGURES; 1. Selected Economic Indicators, 2000-16; 2. Selected Economic Indicators, 2006-20; 3. Reserves Coverage and Financing, 2012-17; TABLES |
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1. Selected Economic and Financial Indicators, 2014-212a. Balance of Payments 2014-21 (CFAF Billion,); 2b. Balance of Payments Percent of GDP, 2014-21; 3a. Fiscal Balances Percent of GDP, 2014-21; 3b. Fiscal Balances Percent of Non-Oil GDP, 2014-21; 4. Monetary Survey, 2015-19; 5. Summary Accounts of the Central Bank, 2015-19; 6. Net Foreign Assets of Central Bank, 2016-19; 7. Relative Size of CEMAC Economies and Importance of Oil Sector, 2014-2021; 8. Financial Soundness Indicators for the Banking Sector, 2010-16; ANNEXES; I. External Sustainability Assessment; APPENDIX |
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I. BEAC and COBAC -- Letter of Policy Support for the Recovery and Reform Programs Adopted by the CEMAC Member Countries |
| Summary |
The sharp decline in oil revenues since 2014 continues to impair the region. In the last two years, regional economic growth has turned negative, fiscal and external imbalances have widened, public debt has risen rapidly, and financial sector vulnerabilities have increased. CEMAC national authorities are implementing fiscal adjustment policies to restore their external and fiscal stability, with the support of the IMF in four countries (Cameroon, Central African Republic, Chad and Gabon). Regional institutions also adjusted policies to assist the rebuilding of regional reserves and ensure financial sector stability. Since mid-2017, the decline in reserves has stopped, but the economic situation remains difficult. Main risks relate to an uncertain macroeconomic outlook dependent on oil prices, possible weaker-than-expected policies owing to capacity constraints and/or lack of political support, possible delays in concluding programs with the remaining countries, and still difficult security conditions |
| Notes |
Print version record |
| Subject |
Oil Prices.
|
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Monetary Policy.
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Fiscal Reforms.
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Fiscal Policy.
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External Shocks.
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Central African Economic And Monetary Community (CEMAC)
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| Form |
Electronic book
|
| ISBN |
9781484305805 |
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1484305809 |
|
1484334116 |
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9781484334119 |
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