LEADER 07322oam 22014414 450 001 9910829020103321 005 20240402051856.0 010 $a1-4755-1382-8 010 $a1-4755-1579-0 010 $a1-4755-1653-3 035 $a(CKB)3710000000074084 035 $a(EBL)1608893 035 $a(SSID)ssj0001154232 035 $a(PQKBManifestationID)11660591 035 $a(PQKBTitleCode)TC0001154232 035 $a(PQKBWorkID)11160962 035 $a(PQKB)10170698 035 $a(MiAaPQ)EBC1608893 035 $a(Au-PeEL)EBL1608893 035 $a(CaPaEBR)ebr10815428 035 $a(CaONFJC)MIL550635 035 $a(OCoLC)870245431 035 $a(IMF)1CAEEE2013001 035 $a(IMF)1CAEEA2013001 035 $a(EXLCZ)993710000000074084 100 $a20020129d2013 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCentral African Economic and Monetary Community (CEMAC) : $e2013 Staff Report on Common Policies for Member Countries 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2013. 215 $a1 online resource (100 p.) 225 1 $aIMF Staff Country Reports 225 0$aIMF country report ;$vno. 13/322 300 $aDescription based upon print version of record. 311 $a1-4755-1378-X 320 $aIncludes bibliographical references. 327 $aCover; CONTENTS; INTRODUCTION; RECENT ECONOMIC DEVELOPMENTS, MEDIUM-TERM OUTLOOK AND RISKS; FIGURES; 1. CEMAC Nominal GDP, 2012; 2. GDP Growth Contribution, 2013; 3. CEMAC Selected Economic Indicators, 2010-12; 4. Recent Economic Developments, 2009-12; 5. Medium-term Outlook, 2013-18; POLICY DISCUSSIONS; A. Adapt Regional Surveillance Framework to Ensure External Viability; 6. CEMAC and WAEMU real and nominal effective exchange rates; 7. Real effective exchange rate of CEMAC countries; B. Enhancing Regional Monetary Policy; 8. CEMAC and ECB Real Policy Rate; 9. CEMAC and ECB Policy Rate 327 $a10. Liquidity operations of BEAC Jan 2007-April 201311. Interbank Money Market Transactions, 1997-Feb. 2013; C. Ensuring Financial Stability and Development; D. Strengthening Regional Integration to Promote Growth; 12. 2013 Doing Business Indicators Ranking; 13. Mo Ibrahim 2012 ranking categories, in Africa; E. Other Issues; STAFF APPRAISAL; TABLES; 1. Selected Economic and Financial Indicators, 2009-18; 2. Millennium Development Goals, 2010; 3. National Accounts, 2009-18; 4. Nominal and Real Effective Exchange Rates, 2005-12; 5. Balance of Payments, 2009-18; 6a. Fiscal Balances, 2009-18 327 $a6b. Fiscal Non-oil Balances, 2009-187. Compliance with Convergence Criteria, 2009-18; 8. Monetary Survey, 2008-12; 9. Summary Accounts of Central Bank, 2008-12; 10. Summary Accounts of Commercial Banks, 2008-12; 11. Summary Medium-Term Projections, 2009-18; 12. Relative Size of CEMAC Economies and Importance of Oil Sector, 2009-18; 13. Violations of Main Prudential Ratios, 2010-12; 14. Bank Ratings, December 2012; 15. Quality of Loan Portfolio, 2010-12; ANNEXES; 1. Risks from Global slowdown for the CEMAC; 2. External Sustainability Assessment 327 $a3. Idiosyncratic shocks and stabilization Mechanisms in the CEMAC4. Possible Options to strengthen the fiscal surveillance framework in the CEMAC; 5. Reducing risks to financial stability and enhancing financial sector Deepening; CONTENTS; RELATIONS OF CEMAC MEMBER COUNTRIES AND THE FUND 330 3 $aThis paper focuses on common policies for member countries of Central African Economic and Monetary Community (CEMAC). It highlights that the fiscal stance should be more cautious in some countries where policy buffers are insufficient to withstand shocks. The recent easing of monetary policy has been appropriate given the positive inflation outlook. Reserves coverage remains adequate and the real effective exchange rate is broadly in line with fundamentals but the issue of only partial repatriation of foreign exchange reserves by some member states needs be resolved. The fiscal surveillance framework should be revised to limit pro-cyclicality and better ensure long-term fiscal sustainability of oil-rich countries. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2013/322 606 $aMonetary policy$zAfrica, Central 606 $aBanks and Banking$2imf 606 $aForeign Exchange$2imf 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aMoney and Monetary Policy$2imf 606 $aFiscal Policy$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aNational Government Expenditures and Related Policies: Infrastructures$2imf 606 $aOther Public Investment and Capital Stock$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aPublic finance & taxation$2imf 606 $aBanking$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aFinancial services law & regulation$2imf 606 $aMonetary economics$2imf 606 $aFiscal stance$2imf 606 $aPublic debt$2imf 606 $aPublic investment spending$2imf 606 $aReal effective exchange rates$2imf 606 $aFiscal policy$2imf 606 $aExpenditure$2imf 606 $aCredit$2imf 606 $aMoney$2imf 606 $aDebts, Public$2imf 606 $aPublic investments$2imf 606 $aBanks and banking$2imf 607 $aAfrica, Central$xEconomic conditions 607 $aCentral African Republic$2imf 615 0$aMonetary policy 615 7$aBanks and Banking 615 7$aForeign Exchange 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aMoney and Monetary Policy 615 7$aFiscal Policy 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aNational Government Expenditures and Related Policies: Infrastructures 615 7$aOther Public Investment and Capital Stock 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aPublic finance & taxation 615 7$aBanking 615 7$aCurrency 615 7$aForeign exchange 615 7$aFinancial services law & regulation 615 7$aMonetary economics 615 7$aFiscal stance 615 7$aPublic debt 615 7$aPublic investment spending 615 7$aReal effective exchange rates 615 7$aFiscal policy 615 7$aExpenditure 615 7$aCredit 615 7$aMoney 615 7$aDebts, Public 615 7$aPublic investments 615 7$aBanks and banking 676 $a332.01 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910829020103321 996 $aCentral African Economic and Monetary Community (CEMAC)$93979323 997 $aUNINA