Stricter forex regulations in Central Africa needed to shore up reserves – IMF
Central bank must be ready to tighten monetary policy should reserves remain below target
The economies of the Central African Economic and Monetary Union (CEMAC) should implement stricter foreign exchange regulations to halt a trend of dwindling reserves, says the International Monetary Fund (IMF).
In a report on the region, entitled CEMAC: Economic outlook improving, but faster progress needed published on July 27, the IMF points out the Bank of the Central African States (BEAC) may need to take action if reserves remain below target. Net foreign assets at the BEAC stood at
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