01936cas a2200241 a 4500 AALejournalIMF017737 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484305775 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. African Dept. Central African Economic and Monetary Community (CEMAC) : Staff Report on the Common Policies in Support of Member Countries Reform Programs. Washington, D.C. : International Monetary Fund, 2017. 1 online resource (47 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 examines common policies supporting reform programs in member countries of the Central African Economic and Monetary Community. The sharp decline in oil prices has profoundly impaired the region's external and fiscal balances. Oil export proceeds and budget oil revenues have plummeted between 2014 and 2016. Several measures have been taken or are planned by the Bank of Central African States (BEAC) to support countries' adjustment programs and help re-build reserves. BEAC has started to tighten the monetary policy stance with a first increase in its policy rate. The BEAC will also gradually eliminate its statutory advances to member countries, and will ensure implementation of strict limits aimed at restricting bank refinancing using government securities as collateral. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2017/176 Full text available on IMF http://elibrary.imf.org/view/journals/002/2017/176/002.2017.issue-176-en.xml IMF e-Library