Central African Economic and Monetary Community : Common Policies in Support of Member Countries Reform Programs-Staff Report, and Statement by the Executive Director.

Central African Economic and Monetary Community : Common Policies in Support of Member Countries Reform Programs-Staff Report, and Statement by the Executive Director.

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CEMAC ended 2021 in a fragile external position, with gross reserves at only 2.7 months of prospective imports and net foreign assets (NFA) at their lowest level in decades, despite the availability of Fund financing, the SDR allocation, and monetary policy tightening. The terms of trade shock this...

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Bibliografiske detaljer
Institution som forfatter: International Monetary Fund. African Dept
Format: Tidsskrift
Sprog:English
Udgivet: Washington, D.C. : International Monetary Fund, 2022.
Serier:IMF Staff Country Reports; Country Report ; No. 2022/208
Fag:
Energy
International Agreements and Observance
International Organizations
Monetary Policy
Online adgang:Full text available on IMF
Beskrivelse
Summary:CEMAC ended 2021 in a fragile external position, with gross reserves at only 2.7 months of prospective imports and net foreign assets (NFA) at their lowest level in decades, despite the availability of Fund financing, the SDR allocation, and monetary policy tightening. The terms of trade shock this year is expected to be broadly positive for CEMAC. This more favorable outlook is, however, subject to heightened external uncertainties associated with the fallout from the war in Ukraine (notably global inflation pressure, global growth uncertainties, and high oil price volatility), faster-than-anticipated global financial tightening, possible emergence of new COVID strains and risks from cryptoassets. Current high oil prices, if sustained, will help rebuild fiscal and external buffers, provided fiscal policies remain prudent. Shielding vulnerable populations from soaring energy and food prices adds to the complexity of navigating this uncertain environment, given CEMAC's already limited policy options.
Emne beskrivelse:<strong>Off-Campus Access:</strong> No User ID or Password Required
<strong>On-Campus Access:</strong> No User ID or Password Required
Fysisk beskrivelse:1 online resource (53 pages)
Format:Mode of access: Internet
ISSN:1934-7685
Adgang:Electronic access restricted to authorized BRAC University faculty, staff and students

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