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Implications of Oil Inflows for Savings and Reserve Management in the Cemac

Abstract
This paper argues that as part of their fiscal optimization strategies CEMAC countries should be given the opportunity to invest into longer-term assets that generate market-based returns. The BEAC has created a framework of longer-term savings funds but due to low remuneration and other factors usage has remained limited. The paper also argues that regional savings in the form of reserve accumulation must be sufficient to ensure the stability of the common currency. While the current level of common foreign reserves may now be appropriate, maintaining an adequate level calls for a link between country-specific savings decisions and the setting of a regional reserve target. Strengthening and diversifying reserve management will also be desirable, a process the BEAC has embarked upon
Table Of Contents
Contents; I. Implications of Oil Inflows for Savings and Reserve Management in the CEMAC; A. Overview; B. The Anatomy of the Oil Inflows; Figures; 1.CEMAC: Oil Inflows, 1999-2006; 2. Change in Oil Inflows; 3. CEMAC: Oil External Balance, 1995-2006; 4. CEMAC: Oil Fiscal Revenues; 5. CEMAC: Change in Oil Revenues; C. Policy Implications: Oil Savings and Reserve Management Frameworks; 6. CEMAC: Change in Non-Oil Fiscal; 7. CEMAC: Change in Non-Oil Current Account; 8. CEMAC: Currency Cover Ratio, 1994-2006; 9. The BEAC's Operations; Boxes; 1. Remuneration of Government Deposits by BEAC
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (26 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781462321513

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