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Central African Economic and Monetary Community (CEMAC): Press Release; Staff Report; and Statement by the Executive Director
Author:
International Monetary Fund. African Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2025: Issue 064
Language:
English
Publication Date:
11 Mar 2025
DOI:
https://doi.org/10.5089/9798229003711.002
ISBN:
9798229003711
ISSN:
1934-7685
Pages:
87
Keywords:
CEMAC authorities; CEMAC country; CEMAC economy; CEMAC heads of state; policy assurance; Financial sector stability; Anti-money laundering and combating the financing of terrorism (AML/CFT); Government securities; Fiscal stance; Global; Central Africa
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This paper presents discussions on Central African Economic and Monetary Community (CEMAC) Common Policies and Common Policies in Support of Member Countries Reform Programs. The CEMAC economy lost momentum in 2023 due to a contraction in hydrocarbon production, while the external position weakened. The commitment expressed at the extraordinary Heads of State Summit in December 2024 to address macroeconomic imbalances, strengthen regional institutions, and prioritize structural reforms offers hope for a more resilient medium-term outlook. Implementing fiscal consolidation in line with these commitments and accelerating structural reforms will be critical to bolstering economic diversification and resilience. In the medium term, growth is projected to strengthen to 3.6 percent by 2029, mainly owing to a rebound in the non-oil sector. Structural reforms aimed at improving governance, enhancing the business climate, and expanding access to finance are expected to bolster potential output. Member states are anticipated to implement sustained fiscal consolidation, with public debt projected to decline to 42 percent of gross domestic product (GDP) by 2029, down from 50.9 percent of GDP in 2024.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund