Central African Economic and Monetary Community

Released on by International Monetary Fund. African Dept.
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  • Central African Economic and Monetary Community Book Detail

  • Author : International Monetary Fund. African Dept.
  • Release Date : 2023-12-21
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 84
  • ISBN 13 :
  • File Size : 51,51 MB
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Central African Economic and Monetary Community by International Monetary Fund. African Dept. PDF Summary

Book Description: The CEMAC’s recovery gained momentum in 2022, supported by higher hydrocarbon prices. The external position strengthened, with a rapid foreign reserve build-up, though still below adequate levels. The recent weakening in external buffers will require more forceful action to tighten liquidity conditions, greater compliance of member countries with foreign exchange regulations and stronger fiscal discipline. Underlying non-oil fiscal positions, however, also deteriorated, stressing the need for accelerating structural reforms, addressing recent fiscal slippages, and bringing polices back in line with Fund-supported program objectives and staff advice. This will be critical to strengthen the region’s resilience to hydrocarbon prices volatility, financial instability, entrenched inflation, tighter financial conditions, food insecurity, domestic conflicts and insecurity, and climate-related events.

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