01844cas a2200241 a 4500 AALejournalIMF013979 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475513783 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. African Dept. Central African Economic and Monetary Community (CEMAC) : 2013 Staff Report on Common Policies for Member Countries. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (99 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This 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. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2013/322 Full text available on IMF http://elibrary.imf.org/view/journals/002/2013/322/002.2013.issue-322-en.xml IMF e-Library