Download or read book Challenges to Effective Integration Within the Central African Economic and Monetary Community written by Professor Alain Ndedi and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current study research is based on a doctorate dissertation conducted by Augustine Nguh under the supervision of Professor Alain Ndedi, assisted by Januarius J. Asongu and Professor Rafael Bisaliev at the Saint Monica University. The Central African Economic and Monetary Community, CEMAC, is yet to fully implement functional and mutually beneficial economic policies to facilitate trade and economic cooperation and progressively advance towards a common market as envisaged since 1999. With a population of about 40 million, a common currency, constituted transnational institutions, the CEMAC has intriguingly continued to lag behind its objectives. The question herein is therefore what the challenges are, and if they can be identified and categorized for solutions and recommendations to be formulated for the way forward. The method employed being essentially qualitative, a scrutiny of documented policies, the collection of data from local and multinational businesses in the sub region, political and administrative authorities, and the practical observation of any stake dynamics that inhibit functional integration constituted the research process. The political rivalry, lack of economic data specifics, tardiness, and the overall poor policy implementation come into sight as core challenges. In sum, it emerges from the study that such diverse political, economic, and socio-cultural impediments would necessitate a multispectral approach to recommendations for remedial reconstruction by all stakeholders for a truly integrated CEMAC sub region.

Download or read book Challenges For An Effective Integration Within The CEMAC Sub Region written by Nguh Jam Augustine a and published by LAP Lambert Academic Publishing. This book was released on 2015-07-15 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Central African Economic and Monetary Community, CEMAC, is yet to fully implement functional and mutually beneficial economic policies to facilitate trade and economic cooperation and progressively advance towards a common market as envisaged since 1999. With a population of about 40 million, a common currency, constituted transnational institutions, the CEMAC has intriguingly continued to lag behind its objectives. The question herein is therefore what are the challenges the sub region is encountering and what need to be done to deal with these. The method employed to gauge the above is qualitative. The political rivalry, lack of economic data specifics, tardiness, and the overall poor policy implementation come into sight as core challenges. In sum, it emerges from the study that such diverse political, economic, and socio-cultural impediments would necessitate a multispectral approach to recommendations for remedial reconstruction by all stakeholders for a truly integrated CEMAC sub region. This book discusses issues around regional integration, policy formulation and implementation, trade blocs, common market and economic cooperation.

Download or read book Roadmap for Regional Integration Within the Central African Economic and Monetary Community CEMAC Under the NEPAD Framework written by Professor Alain Ndedi and published by . This book was released on 2017 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Central African Economic and Monetary Community, more frequently and generally referred to as the CEMAC, from its French acronym; Communauté Economique et Monetaire des Etats de l'Afrique Centrale, has been striving for many years to institute fully functional and mutually beneficial economic reforms that should facilitate trade and other forms of economic cooperation among member states. This has been the structure's main focus from inception as its principal objectives at creation in 1999. In sum, it has been to converge with the goal of monitoring and controlling national economic policies, coordinating sectoral reforms, and to progressively create a common market. The challenges that prevent the community from marginally or significantly achieving any of the above objectives of the community are diverse. The Member countries jointly have a population of more than 40 million inhabitants who use a common currency, and have built a number of institutions in a bid to foster regional integration but there seem to be a number of political, economic, socio-cultural, administrative factors, and more dynamics that inhibit genuine cooperation to the detriment of a progressive itinerary to a common market. In recent times, there ethnics conflicts in Central African Republic (CAR) and Cameroon facing some issues with the Anglophone minority are just some issues that inhibiting progress with the sub region. Identifying these inhibitive factors through the scrutiny of documented policies, the collection of data from local and multinational scholars and businesses in the sub region, consulting World Bank, IMF, OCDE and African Development Bank reports, perusing scholarly publications, and observing stake dynamics to suggest a way forward, is the intent of this paper. This paper attempts to demonstrate that abandoning the integration efforts does not constitute an option for the sub region for the reason that there are diverse chances for improvement as the way forward. The first part of the paper shows a glimpse of the current CEMAC economic and political situation, with the need for an effective integration. The paper demonstrates in its second part the role that the New Partnership for Africa's Development (NEPAD) can play in assisting the CEMAC sub region in achieving its objectives, and the last part makes recommendations for a roadmap for an effective and efficient integration within the central Regional Economic Community.

Download or read book Central African Economic and Monetary Community CEMAC written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2019-01-03 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper looks at some Central African Economic and Monetary Community (CEMAC) specific regional dimensions of a possible strategy to enhance governance, which would support specific reforms in this area at the country level. The paper describes the specific dimensions of governance covered in the note. The paper also analyzes governance and corruption in the areas of public financial management, anti-money laundering, and the link between the oil sector and public resources. The CEMAC regional institutions will have to play a central role to lead progress in these areas, and support member countries’ own efforts. Due to such actions result in giving a coherent framework to actions conducted at the country level, the synergic dimension can spur a virtuous circle, key to earn the benefit of an economic and monetary union. The success of the regional strategy that CEMAC member countries and regional institutions are implementing to exit the severe crisis they are facing depends critically on creating the conditions for laying the ground for a diversified economy, within a well-functioning regional market and an environment that provides opportunities for all and where public resources are geared to most productive use.

Download or read book Central African Economic and Monetary Community Selected Issues written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2006-08-22 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The creation, in 1994, of the Central African Economic and Monetary Community (CEMAC) customs union was a major step in the regional integration process in central Africa. The implementation of the agreed regime by the member countries, however, has remained unsatisfactory. A 2002-03 initiative to improve policy implementation has largely stalled. Several recent initiatives concerning external trade provide new challenges and opportunities for welfare-enhancing reforms. Although the 1994 reforms that created the CEMAC customs union were a major step forward, the trade regime remains plagued by poor implementation.

Download or read book Central African Economic and Monetary Community Paper on Recent Developments and Regional Policy Issues Public Information Notice on the Executive Board Discussion and Statement by the Executive Director on Recent Developments and Regional Policy Issues in the Central African Economic and Monetary Community written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2005-11-11 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper on recent developments and regional policy issues in the Central African Economic and Monetary Community (CEMAC) discusses the recent development and trends in economic integration. Trade restrictions and an uneven application of CEMAC rules constrain external and intraregional trade. CEMAC officials agreed that further trade growth will require renewed commitment to abide by common trading rules. CEMAC faces important structural challenges, such as the weak financial sectors in several member countries and the need to increase competitiveness in the non-oil segments of the region's economies.

Download or read book Central African Economic and Monetary Community CEMAC written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2014-08-27 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 wealth during the last years, poverty, income inequality and unemployment remain high. The business climate is one of the most challenging in Africa. The region’s most pressing challenge is to implement structural reforms to promote sustainable and inclusive growth while adopting macro policies to preserve financial stability, ensure an efficient use of oil revenues and increase resilience to shocks.

Download or read book Central African Economic and Monetary Community written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-08-14 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the common policies adopted by the members of the Central African Economic and Monetary Community (CEMAC). The macroeconomic performance was good in 2011 with improved fiscal balances, public investment programs, and higher reserves. However, CEMAC is facing challenges from deep-seated structural problems, including uncoordinated fiscal policy, financial sector weaknesses, and obstacles to growth and competitiveness. The Executive Board recommends monetary policies for financial stability and suggest making monetary policies an efficient tool of macroeconomic management. Also, the Board recommends strengthening of governance of CEMAC’s common institutions.

Download or read book Central African Economic and Monetary Community CEMAC written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2014-08-26 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 wealth during the last years, poverty, income inequality and unemployment remain high. The business climate is one of the most challenging in Africa. The region’s most pressing challenge is to implement structural reforms to promote sustainable and inclusive growth while adopting macro policies to preserve financial stability, ensure an efficient use of oil revenues and increase resilience to shocks.

Download or read book Central African Economic and Monetary Community CEMAC written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2019-01-03 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: The regional strategy has helped to avert an immediate crisis but continues to face headwinds: two countries have yet to enter financing arrangements with the Fund: regional reserves have underperformed despite higher-than-projected oil prices; the projected recovery of non-oil growth has still to materialize; and the security, social, and political context remains challenging. Consistent with the policy assurances it had provided, the BEAC has taken corrective actions, including an increase in its policy rate, to address the NFA underperformance and has made substantial progress toward finalizing by end-year the modernization of the monetary policy operational framework and the drafting of new foreign exchange regulations. A follow-up letter of support provides updated policy assurances on the NFA path. The medium-term outlook continues to see a gradual improvement in the economic and financial situation but is subject to substantial downside risks, including further delays in the approval of financial arrangements with Congo and Equatorial Guinea, lower oil prices, and tighter global financial conditions. The region continues to face daunting challenges to diversify its economy, with a poor business environment and high perception of corruption.

Download or read book Central African Economic and Monetary Community Recent Developments and Regional Policy Issues written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2005-11-11 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper on recent developments and regional policy issues in the Central African Economic and Monetary Community (CEMAC) discusses the recent development and trends in economic integration. Trade restrictions and an uneven application of CEMAC rules constrain external and intraregional trade. CEMAC officials agreed that further trade growth will require renewed commitment to abide by common trading rules. CEMAC faces important structural challenges, such as the weak financial sectors in several member countries and the need to increase competitiveness in the non-oil segments of the region’s economies.

Download or read book Central African Economic and Monetary Community written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-08-22 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomic developments benefited from oil windfalls, but structural problems still impede non-oil growth. Fiscal and external balances improved in the Central African Economic and Monetary Community (CEMAC) because of the surge in oil prices and better fiscal management. Oil-related reserve inflows also helped accelerate regional broad money, leading to somewhat higher inflation and a small further appreciation of the real effective exchange rate (REER). Macroeconomic prospects for 2006 are positive, despite persistent structural challenges. Higher oil income offers CEMAC members economic opportunities but also challenges.

Download or read book Monetary and Financial Systems in Africa written by Aloysius Ajab Amin and published by Springer Nature. This book was released on 2022-05-26 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an overview of the monetary and financial systems seen in Africa. The issues related to these systems are examined to help evaluate their effectiveness in fostering the development of African economies. Economic integration is extensively discussed to highlight variations between different parts of Africa and the specific challenges seen within certain regions. The impact of monetary unions, in particular the CFA franc zone, on economic activities is also explored. This book aims to outline how sustainable development can be achieved in Africa through well-developed financial and monetary institutions and policies. It will be relevant to students, academics and policy makers interested in African and development economics.

Download or read book The Quest for Regional Integration in the Twenty First Century written by Joram Mukama Biswaro and published by African Books Collective. This book was released on 2012 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last five decades, the world has witnessed dramatic changes. The Cold War has ended, and geopolitical relations among the major powers have been generally stable and tranquil. Moreover, the demise of colonialism has allowed newly independent countries to play a greater role in the international arena, and countries that used to be foes have now joined hands to develop their economies and raise the living standards of their peoples. At the same time, economic integration, both regional and global, has taken a strong hold. There is a growing realization that, for the survival of the modern world, with increasing cross-national links and externalities, global cooperation is a necessity. The opponents of integration argue that it is merely a guise for exploiting people in developing countries, which will cause massive disruptions of lives and with few benefits to the poor. Its proponents, however, point to the significantly reduced levels of poverty in countries that have adopted economic integration, such as China, India, Vietnam, Brazil, Chile, South Africa, Tanzania, and others. The EU experience is a successful example of integrating national economies, but how far should those promoting regional integration in Africa and other regions look to the EU as a model? Can regional and global integration proceed harmoniously? The journey towards fully-fledged regional integration in Africa and beyond could be long, rough and tough. Challenges and fears are enormous, but hopes, opportunities and prospects are immense. From this study it can be further concluded that Regional Integration and Cooperation in the 21st century is a reality and relevant.

Download or read book Central African Economic and Monetary Community written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2016-09-09 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper assesses the appropriate level of international reserves for the Economic and Monetary Community of Central Africa. The management of the regional central bank’s (BEAC’s) international reserves is governed by monetary cooperation agreements with France. In view of current risks, it is suggested that the BEAC should define its target level of international reserves. The BEAC should have a framework that reflects fairly each member state’s contribution to the pooled reserves. The enforcement of the surrender requirement should be based on a finding of noncompliance even if the target level is achieved. The institutional framework for reserve management should also provide for the achievement of the target level.

Download or read book Central African Economic and Monetary Community CEMAC written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2019-07-09 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: The regional strategy has helped stabilize the regional economic position thanks to large fiscal consolidation efforts, a tighter monetary policy, and external financial assistance. The external position improved, and external reserves picked up. However, the region remains dependent on oil revenues, with little progress in economic diversification, under-performing budget non-oil revenues and weaknesses in the financial sector. The policy assurances included in BEAC’s letter of December 2018 were implemented as planned and the CEMAC authorities reiterated their full commitment to the strategy and their readiness to implement additional corrective measures if needed. Progress was made towards new IMF-supported program in Congo and Equatorial Guinea.

Download or read book Integration development and equity economic integration in West Africa written by Peter Robson and published by Routledge. This book was released on 2010-11-26 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: This reissue, first published in 1983, is an authoritative study of economic integration among the states of West Africa, focusing upon the issues and experience of the four main initiatives for regional integration in West Africa, namely the Economic Community of West African States, the Mano River Union, the Communauté Economique de l’Afrique de l’Ouest, and the recent initiative for the establishment of an economic and monetary union between Senegal and the Gambia.