Enhancing sustainable and inclusive growth in the Central African economic and monetary community / World Bank.

Format:

Book

Author/Creator:

World Bank, author.

Series:

Other economic and sector work reports

Language:

English

Subjects (All):

Monetary policy.

Physical Description:

1 online resource.

Place of Publication:

Washington, District of Columbia : World Bank, 2022.

Summary:

The Central African Economic and Monetary Community (CEMAC) authorities had been trying to set in motion a process to address the root cause of the region's vulnerability - a largely undiversified economic basis overly dependent on oil. The CEMAC Commission had put in place a large-scale strategy of CEMAC economic and financial reform (PREF). This plan defines a set of reforms, organized around five pillars, to create the basis for more diversified, inclusive, private sector - led growth and enhanced governance of the public sector. Initial measures focused on engaging in closer financial relationships with the International Monetary Fund (IMF) and other development partners. As the first generation of IMF-supported programs are ending, and most CEMAC countries have benefited from the IMF's sizable emergency financing to cope with the social and economic fallout of the COVID-19 crisis, the next step is to identify key reforms that will underpin second-generation programs to boost progress on the PREF and focus on addressing growth bottlenecks. This note responds to this need. It highlights a set of priority reforms at the national and regional levels that can guide the second generation of IMF programs and support the objective of putting CEMAC on a more sustained and inclusive path.

Notes:

Description based on publisher supplied metadata and other sources.

Publisher Number:

10.1596/38438