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...

This paper discusses common policies of member countries, and common policies in support of member countries reform programs in Central African Economic and Monetary Community (CEMAC). In order to preserve price stability and strengthen external buffers, maintain a data-dependent monetary policy...

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 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...

Ethiopia pursues a public sector-led growth strategy that focuses on promoting growth through high public investment supported partly by low nominal interest rates. While the strategy has contributed to robust economic growth in the past, recent developments indicate a buildup of vulnerabilities...

The key issue facing Congo is how to use oil and mineral resources effectively in support of inclusive growth. Economic conditions are supportive--macroeconomic stability is in place, the terms of trade are favorable, and the external position is strong. External risks are mitigated by...

Regional growth weakened in 2013 due to a fall in oil production in most countries. GDP growth is expected to pick-up in 2014 due to the recovery of oil production and the continuation of the implementation of public investment plans in most of CEMAC countries. Despite large spending of oil...

This Selected Issues paper focuses on the need of improving liquidity management and the operational framework of monetary policy in Central African Economic and Monetary Community (CEMAC). Disconnected policy and lending rates reflect the ineffective interest rate channel of monetary policy...