02459cas a2200253 a 4500 AALejournalIMF023055 230101c9999 xx r poo 0 0eng d 20.00 USD 9798400218781 2790-4458 BD-DhAAL BD-DhAAL International Monetary Fund. African Dept. Central African Economic and Monetary Community: Common Policies in Support of Member Countries Reform Programs-Press Release, Staff Report, and Statement by the Executive Director for the Central African Economic and Monetary Community. French Central African Economic and Monetary Community : Common Policies in Support of Member Countries Reform Programs-Press Release, Staff Report, and Statement by the Executive Director for the Central African Economic and Monetary Community. Washington, D.C. : International Monetary Fund, 2022. 1 online resource (68 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 Despite a more favorable external environment, marked by the rebound in global growth, fast-increasing oil prices, and unprecedented Fund financial support, CEMAC is ending 2021 in a fragile external position. Net external reserves fell throughout 2021 to reach their lowest level in decades, and gross reserves are just above three months of imports of goods and services. The launch of a second phase of the regional strategy at the August 2021 CEMAC Heads of States summit saw renewed commitments to accelerate structural, transparency, and governance reforms. The resumption of program engagements with the Fund, combined with high oil prices and significant fiscal adjustments in 2022, should allow for a turnaround, and the build-up in external reserves is expected to resume in 2022. Risks include possible adverse pandemic developments, oil price volatility, possible fiscal slippages, shortfall in external financing, and security issues. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2022/013 Full text available on IMF https://elibrary.imf.org/openurl?genre=journal&issn=2790-4458&volume=2022&issue=013 IMF e-Library