Central African Economic and Monetary Community : Staff Report on Common Policies of Member Countries; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Central African Economic and Monetary Community.

Format:

Book

Government document

Author/Creator:

International Monetary Fund.

Series:

IMF Staff Country Reports; Country Report ; No. 2012/244

IMF Staff Country Reports

Language:

English

Subjects (All):

Monetary policy--Africa, Central.

Monetary policy.

Africa, Central--Economic conditions.

Africa, Central.

Physical Description:

1 online resource (82 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2012.

Language Note:

English

Summary:

This paper discusses the common policies adopted by the members of the Central African Economic and Monetary Community (CEMAC). The macroeconomic performance was good in 2011 with improved fiscal balances, public investment programs, and higher reserves. However, CEMAC is facing challenges from deep-seated structural problems, including uncoordinated fiscal policy, financial sector weaknesses, and obstacles to growth and competitiveness. The Executive Board recommends monetary policies for financial stability and suggest making monetary policies an efficient tool of macroeconomic management. Also, the Board recommends strengthening of governance of CEMAC’s common institutions.

Contents:

Cover; CONTENTS; INTRODUCTION; FIGURES; 1. GDP Composition, 2011; ECONOMIC CONTEXT; A. Recent Economic Developments; B. Outlook and Risks; 2. Recent Economic Developments, 2008-11; 3. Monetary Developments, 2007-11; 4. Fiscal Developments, 2000-11; 5. Medium-Term Outlook, 2011-16; BOXES; 1. How Would a Weaker Global Environment Affect the CEMAC Region?; ENSURING ECONOMIC STABILITY AND EXTERNAL SUSTAINABILITY; A. Monetary Policy and Liquidity Management; B. Fiscal Policy Coordination; C. External Sustainability; 6. Real Effective Exchange Rate (2005=100), 1990-2011

2. External Stability AssessmentENSURING FINANCIAL STABILITY AND DEVELOPMENT; 3. Findings from the CEMAC Banking Stress Test; 7. Financial Depth, 2004-10; STRENGTHENING GROWTH AND COMPETITIVENESS; 8. Intraregional Trade: Selected Regions; STRENGTHENING COMMON INSTITUTIONS; OTHER ISSUES; A. Capacity Building; B. Data Quality; STAFF APPRAISAL; TABLES; 1. Selected Economic and Financial Indicators, 2007-13; 2. Millennium Development Goals, 1990 and 2010; 3. National Accounts, 2007-13; 4. Nominal and Real Effective Exchange Rates, 2006-11; 5. Balance of Payments, 2007-13

6a. Fiscal Balances, 2007-136b. Fiscal Non-oil Balances, 2007-13; 7. Compliance with Convergence Criteria, 2007-13; 8. Monetary Survey, 2007-11; 9. Summary Accounts of Central Bank, 2007-11; 10. Summary Accounts of Commercial Banks, 2007-11; 11. Summary Medium-Term Projections, 2011-16; 12. Relative Size of CEMAC Economies and Importance of Oil Sector, 2007-12; 13. Violations of Main Prudential Ratios, 2009-11; 14. Bank Ratings, December 2011; 15. Quality of Loan Portfolio, 2010-11; 16. Summary of Stress Test Results; APPENDIXES; I. Multilateral Surveillance Framework

II. Assessing Reserve Adequacy of the Oil-Rich CEMAC RegionIII. Progress in Financial Sector Reform; IV. Risk Assessment Matrix; CONTENTS; RELATIONS BETWEEN CEMAC MEMBER COUNTRIES AND THE FUND; V. Public Information Notice

Notes:

Description based upon print version of record.

Description based on print version record.

ISBN:

9781475520859

1475520859

9781475562187

1475562187