This paper highlights Central African Economic and Monetary Community's (CEMAC) common policies in support of member countries reform programs. CEMAC benefited from favorable hydrocarbon prices in 2022. Economic recovery firmed up and the external position strengthened, with external reserves...

This paper discusses Central African Economic and Monetary Community's (CEMAC) Common Policies in Support of Member Countries Reform Programs. CEMAC ended 2021 in a fragile external position, with gross reserves at only 2.7 months of prospective imports and net foreign assets at their lowest...

The WAEMU has seen strong growth and rising living standards over the past decade. Economic growth averaged 5.4 percent in 2013-2019 and 5.8 percent in 2021-2023. Policy efforts from regional and national authorities have cushioned the impact of several external and internal shocks, prompting a...

The CEMAC’s economy lost some momentum in 2023 and the external position deteriorated somewhat, while inflation cooled but remained high. Updated statistics revealed a much more deteriorated fiscal situation than originally estimated. The near-term outlook is one of continued recovery, with...

This Selected Issues paper explores revamping the West African Economic and Monetary Union's fiscal framework. The new set of fiscal rules should be improved via various supporting arrangements. Those include an escape clause, and broader mechanisms for assessment, accountability, enforcement,...

This paper presents West African Economic and Monetary Union's (WAEMU) report on Common Policies for Member Countries. The WAEMU's post-coronavirus disease 2019 recovery has withstood the new global and regional shocks, partly due to supportive macroeconomic policies and favorable initial...