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Central African Economic and Monetary Community

2016-09-08 Business & Economics
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Release : 2016-09-08
Genre : Business & Economics
Kind : eBook
Book Rating : 465/5 ( reviews)

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Book Synopsis Central African Economic and Monetary Community by : International Monetary Fund. African Dept.

Download or read book Central African Economic and Monetary Community written by International Monetary Fund. African Dept.. This book was released on 2016-09-08. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper assesses the appropriate level of international reserves for the Economic and Monetary Community of Central Africa. The management of the regional central bank’s (BEAC’s) international reserves is governed by monetary cooperation agreements with France. In view of current risks, it is suggested that the BEAC should define its target level of international reserves. The BEAC should have a framework that reflects fairly each member state’s contribution to the pooled reserves. The enforcement of the surrender requirement should be based on a finding of noncompliance even if the target level is achieved. The institutional framework for reserve management should also provide for the achievement of the target level.

Central African Economic and Monetary Community

2023-12-21 Business & Economics
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Release : 2023-12-21
Genre : Business & Economics
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Book Rating : /5 ( reviews)

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Book Synopsis Central African Economic and Monetary Community by : International Monetary Fund. African Dept.

Download or read book Central African Economic and Monetary Community written by International Monetary Fund. African Dept.. This book was released on 2023-12-21. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Central African Economic and Monetary Community (CEMAC)

2019-01-03 Business & Economics
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Release : 2019-01-03
Genre : Business & Economics
Kind : eBook
Book Rating : 868/5 ( reviews)

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Book Synopsis Central African Economic and Monetary Community (CEMAC) by : International Monetary Fund. African Dept.

Download or read book Central African Economic and Monetary Community (CEMAC) written by International Monetary Fund. African Dept.. This book was released on 2019-01-03. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper looks at some Central African Economic and Monetary Community (CEMAC) specific regional dimensions of a possible strategy to enhance governance, which would support specific reforms in this area at the country level. The paper describes the specific dimensions of governance covered in the note. The paper also analyzes governance and corruption in the areas of public financial management, anti-money laundering, and the link between the oil sector and public resources. The CEMAC regional institutions will have to play a central role to lead progress in these areas, and support member countries’ own efforts. Due to such actions result in giving a coherent framework to actions conducted at the country level, the synergic dimension can spur a virtuous circle, key to earn the benefit of an economic and monetary union. The success of the regional strategy that CEMAC member countries and regional institutions are implementing to exit the severe crisis they are facing depends critically on creating the conditions for laying the ground for a diversified economy, within a well-functioning regional market and an environment that provides opportunities for all and where public resources are geared to most productive use.

Central African Economic and Monetary Community (CEMAC)

2017-07-12 Business & Economics
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Release : 2017-07-12
Genre : Business & Economics
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Book Rating : 779/5 ( reviews)

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Book Synopsis Central African Economic and Monetary Community (CEMAC) by : International Monetary Fund. African Dept.

Download or read book Central African Economic and Monetary Community (CEMAC) written by International Monetary Fund. African Dept.. This book was released on 2017-07-12. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines common policies supporting reform programs in member countries of the Central African Economic and Monetary Community. The sharp decline in oil prices has profoundly impaired the region’s external and fiscal balances. Oil export proceeds and budget oil revenues have plummeted between 2014 and 2016. Several measures have been taken or are planned by the Bank of Central African States (BEAC) to support countries’ adjustment programs and help re-build reserves. BEAC has started to tighten the monetary policy stance with a first increase in its policy rate. The BEAC will also gradually eliminate its statutory advances to member countries, and will ensure implementation of strict limits aimed at restricting bank refinancing using government securities as collateral.

Central African Economic and Monetary Community (CEMAC)

2019-12-20 Business & Economics
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Release : 2019-12-20
Genre : Business & Economics
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Book Rating : 996/5 ( reviews)

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Book Synopsis Central African Economic and Monetary Community (CEMAC) by : International Monetary Fund. African Dept.

Download or read book Central African Economic and Monetary Community (CEMAC) written by International Monetary Fund. African Dept.. This book was released on 2019-12-20. Available in PDF, EPUB and Kindle. Book excerpt: This paper highlights annual discussions on Central African Economic and Monetary Community’s (CEMAC) Common Policies in Support of Member Countries Reform Programs. Tighter macroeconomic and financial policies helped to avert a deeper crisis, and gross external reserves increased more rapidly in recent months, also helped by a stronger implementation of CEMAC foreign exchange regulations. Reforms to support a more diversified and inclusive growth, including by improving governance and the business climate, should gain momentum to make current efforts to buttress the external position of the region sustainable. The outlook for 2019 and beyond foresees further improvement in regional reserves assuming CEMAC countries remain committed to their program objectives and new programs with Cameroon, Central African Republic and Equatorial Guinea could start around end-2019.

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